Modvat credit cannot be denied for invoice format defects when transporter's copy and authentication requirements are substantially satisfied.

Modvat credit cannot be denied merely because invoices were not fully pre-authenticated in form or because the words "Duplicate for Transporter's Copy" were rubber-stamped rather than pre-printed. The invoices were treated as properly printed with "Transporter's Copy", and the missing name and designation of the pre-authenticating officer below the signature was held insufficient to defeat the credit claim. On these facts, the disallowance of Modvat credit and the related penalty were unsustainable.

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Issues: Whether Modvat credit could be denied on the ground that the invoices were not properly pre-authenticated and that the words "Duplicate for Transporter's Copy" were rubber-stamped instead of being pre-printed.

Analysis: The invoices were found to be properly printed with "Transporter's Copy", with only the word "Duplicate" rubber-stamped. The invoices were also treated as pre-authenticated for the purpose of the law. The absence of the name and designation of the pre-authenticating officer below the signature was held insufficient to defeat the credit claim.

Conclusion: Modvat credit could not be denied on these grounds, and the disallowance and penalty were unsustainable.

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