TMI Blog1997 (1) TMI 164X X X X Extracts X X X X X X X X Extracts X X X X ..... tay application is filed by the applicants for waiver of pre-deposit of duty amounting to Rs. 39,157/- and penalty of Rs. 2,000/- and stay of recovery proceedings. 2. Arguing in support of the stay application filed by the applicants, Shri M.P. Dev Nath, learned Advocate, submitted that the issue relates to denial of Modvat credit in respect of the liquid nitrogen. He submitted that liquid nitro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .T. 281 (Tribunal) wherein it was held that Modvat credit is permissible since Anti-corrosion oil is essential and the products were invariably sold after application of said oil and similarly in the case of Collector of Central Excise, Chandigarh v. Indo Asian Fuse Gear Ltd. - 1993 (68) E.L.T. 207 (Tribunal) = 1994 (52) ECR 275 wherein it was held that miniature circuit breakers manufactured by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rketed after testing. 4. I have carefully considered the submissions made by both the sides and perused the record. Whether test is compulsory or not is not clear from the record. This aspect requires thorough examination and that can be looked in to at the time of regular hearing. Further, although it was stated that at two stages nitrogen was used in the manufacture of the finished product and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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