https://www.taxtmi.com/caselaws?id=85414 Duty-paid goods returned by buyers did not qualify as inputs under Rule 57A because they were neither declared as inputs nor used as such, and the fact that no revenue loss was shown did not validate an otherwise inadmissible Modvat credit. The departmental objection on credit therefore succeeded. Penalty, however, was not warranted because the assessee filed the D3 intimation in time and kept the department informed of receipt of the goods, which showed bona fide conduct and negatived any intention to evade duty or cause revenue default. The order allowing credit was set aside, while the penalty was deleted. en-us Mon, 18 Mar 1996 00:00:00 +0530 Thu, 19 May 2022 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85414 Duty-paid goods returned by buyers did not qualify as inputs under Rule 57A because they were neither declared as inputs nor used as such, and the fact that no revenue loss was shown did not validate an otherwise inadmissible Modvat credit. The departmental objection on credit therefore succeeded. Penalty, however, was not warranted because the assessee filed the D3 intimation in time and kept the department informed of receipt of the goods, which showed bona fide conduct and negatived any intention to evade duty or cause revenue default. The order allowing credit was set aside, while the penalty was deleted. Case-Laws Central Excise Mon, 18 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85414