Fraudulent tax credit availment: strict enforcement and reporting required; action against assessees and responsible officers. The Board reiterates that fraudulent availment of Modvat credit necessitates stern action against the assessee and officers responsible; recipients must strictly comply with prior instructions and furnish a compliance report to the Board every six months, and acknowledge receipt of the communication.
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Provisions expressly mentioned in the judgment/order text.
Fraudulent tax credit availment: strict enforcement and reporting required; action against assessees and responsible officers.
The Board reiterates that fraudulent availment of Modvat credit necessitates stern action against the assessee and officers responsible; recipients must strictly comply with prior instructions and furnish a compliance report to the Board every six months, and acknowledge receipt of the communication.
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