https://www.taxtmi.com/caselaws?id=86544 Modvat credit was treated as available where the declaration had in fact been received by the department, so denial on the ground of non-filing was not sustainable. Liquid Oxygen used in the blast furnace for manufacture of refined lead was also held to qualify as an eligible input, because the relevant test was use in or in relation to manufacture rather than physical incorporation in the finished product. As it was not covered by the exclusion clause, credit was allowed and the penalty was vacated. en-us Thu, 09 Jan 1997 00:00:00 +0530 Thu, 25 Aug 2011 15:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86544 Modvat credit was treated as available where the declaration had in fact been received by the department, so denial on the ground of non-filing was not sustainable. Liquid Oxygen used in the blast furnace for manufacture of refined lead was also held to qualify as an eligible input, because the relevant test was use in or in relation to manufacture rather than physical incorporation in the finished product. As it was not covered by the exclusion clause, credit was allowed and the penalty was vacated. Case-Laws Central Excise Thu, 09 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86544