1999 (8) TMI 233

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..... Revenue has filed this appeal agitating the allowance of Modvat credit on capital goods such as `Power Cables, Nut Bolts and Screw, Thermo Couple, Steam Generator and Gear Pump'. Revenue has placed reliance on the terms used in the Explanation under Rule 57Q, especially the definition of `capital goods' for the purpose of Modvat credit. I have heard Shri N. Khaitan, ld. Counsel for the Responde .....

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..... ' is used for testing purpose in the insulating line machines. We have already held that testing and measuring instruments and machines are capital goods for purpose of Modvat. We do not find any reason to disagree with this and therefore, we hold that `Thermo Couple' being a testing equipment is capital goods for purpose of Modvat. 4. From the records, it is brought to my notice that `Steam .....

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