JUDGMENT

Altamas Kabir, J. —

1.The short point involved in these appeals is whether the Appellant/Assessee is eligible for Modvat Credit on certain goods for the period comprising November and December, 1999.

2.The Appellant, M/s Madras Cements Ltd., Alathiyur, hereinafter referred to as ‘the Assessee’ is the holder of Central Excise Registration No.1/Cement/97 and is engaged in the manufacture of cement and clinker coming within the ambit of Chapter 25 of the Central Excise Tariff Act, 1985, hereinafter referred to as ‘CETA, 1985’.

3.The Revenue’s contention is that for the months of November and December, 1999, the Assessee had taken Modvat Credit on ineligible capital goods amounting to Rs.8,42,843/-. The further contention of the Revenue is that the Assessee was not entitled to such credit, inasmuch as, it had taken Modvat Credit on items which did not come within the purview of capital goods under Rule 57Q of the Central Excise Rules, 1944, although it was claimed by the Assessee that the said items comprised components, spares and accessories within the meaning of Explanation 1(d) of Rule 57Q(1) relating to capital goods. Accordingly, on 31st March, 2000, the Assessee was issued