Entitlement of MODVAT Credit - Capital Goods - ownership - Credit availed by the Job Worker - assessee herein had received the said capital goods under a leave and licence agreement, the ownership of the said capital goods rested with M/s.Hyundai Motors India Limited and the assessee was not the owner of the said capital goods at any point of time - Extended period of limitation - Suppression by Assessee - Rule 57T of Central Excise Rules - Held that - There was no ground to disturb the order of the Tribunal, more so in the context of the Central Board s clarification that the job workers were entitled to claim MODVAT credit as per the Board s circular. It was a matter of relevance to note that the decision of the Delhi High Court in SHARDA MOTORS INDUSTRIES LTD. Versus COMMISSIONER OF C. EX., CHENNAI-II 2002 (3) TMI 188 - CEGAT, NEW DELHI had attained finality and the Department had also accepted the same there was no justification in the Department taking a diametrically opposite view - The clarificatory letter clearly indicated the intention of the Revenue to grant relief in respect of job worker and to the persons who obtained capital goods Decided in favour of Assessee............................... Central Excise - Case Law
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