2006 (8) TMI 226

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..... - The issue regarding the eligibility of Modvat credit on  capital goods that is air conditioner was referred to the Larger  Bench after noticing the contrary decision in the case of ITI Ltd. v. C.C. - 2005 (182) E.L.T. 341 and in the case of Jaypee Bela Plant v. C.C.E., Rapur - 2003 (161) E.L.T. 422. 2. We find that Modvat in respect of capital goods was introduced in the year 1994. T .....

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..... the factory of the manufacture." The referral Bench noticed in the case of Jaypee Bela Plant (supra) which is for the subsequent period and that there is specific exclusion clause for air conditioners as capital goods. During the relevant period that June 1995, there was no such exclusion clause under the definition of capital goods. In these circumstances, we find that there is no contrary decis .....

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