ORDER
P.C. Jain, Vice President
1. Question involved in the present case is regarding admissibility of Modvat credit on iron and steel sheets brought by the appellant herein for the purpose of constructing tanks and moulds. Benefit of the said credit had been denied on the ground that the sheets can neither be considered machine, machinery, plant, equipment, etc. nor they can be considered as components, spares, accessories etc. They are in the nature of raw-materials for the purpose of manufacture of steel tanks and steel moulds.
2. I have heard the learned Advocate, Shri Upendra Sharma and the learned JDR, Shri T.A. Arunachalam.
3. I agree with the findings of the lower authorities that Modvat credit on the aforesaid goods as “capital goods” cannot be allowed because the raw-material, as aforesaid, has been used for construction/manufacture of MS tanks and MS moulds. These materials do not fall within the definition of “capital goods” under Rule 57Q. Consequently, the benefit of Modvat credit availed by the appellant has been rightly denied. Hence, I dismiss the appeal of the appellant herein.