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2017 (2) TMI 667 - AT - Central ExciseMODVAT credit - denial on the ground that the capital goods is used for cotton carded, silver which falls under chapter 52.02 and is not excisable therefore as per annexure Rule 57Q capital goods used in the manufacture of such finished good is not eligible for the modvat credit - Held that: - similar issue decided in the case of Thuran Spining Mills Vs. Commissioner [1999 (5) TMI 309 - CEGAT, MADRAS] where the Tribunal held that the Cenvat credit on capital goods used for producing silver cotton carded falling under chapter 52.02 is admissible under Rule 57Q - the appellant is entitle for the credit on the capital goods used for manufacture of intermediate goods i.e. silver, cotton carded which was further used in the manufacture of dutiable cotton yarn - appeal allowed - decided in favor of appellant.
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