https://www.taxtmi.com/caselaws?id=83251 Excess stock of steel ingots, when found on physical verification and reasonably determined on average weight basis but left unexplained in the statutory register, may justify confiscation. By contrast, Modvat credit for steel flats and end cuttings cannot be denied merely because the inputs were not declared in the prescribed manner where they were treated as scrap and used in the manufacture of the final product; a technical description lapse was not enough to defeat credit. The result was partial success for the assessee, with credit allowed and the redemption fine and penalty reduced. en-us Thu, 05 May 1994 00:00:00 +0530 Tue, 12 Jul 2011 11:15:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83251 Excess stock of steel ingots, when found on physical verification and reasonably determined on average weight basis but left unexplained in the statutory register, may justify confiscation. By contrast, Modvat credit for steel flats and end cuttings cannot be denied merely because the inputs were not declared in the prescribed manner where they were treated as scrap and used in the manufacture of the final product; a technical description lapse was not enough to defeat credit. The result was partial success for the assessee, with credit allowed and the redemption fine and penalty reduced. Case-Laws Central Excise Thu, 05 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83251