https://www.taxtmi.com/caselaws?id=86947 Modvat credit was held admissible where the substantive entitlement was otherwise established, because minor procedural lapses alone should not defeat a fiscal benefit. The Tribunal treated the earlier decisions relied on by the assessee as covering the issue and upheld credit in favour of the assessee. On penalty, the Tribunal accepted that prescribed procedure had not been strictly followed and that compliance remained necessary, but found the original penalty excessive in the facts. The penalty was therefore sustained only to a limited extent and reduced to Rs. 4,000. en-us Fri, 02 May 1997 00:00:00 +0530 Mon, 29 Aug 2011 15:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86947 Modvat credit was held admissible where the substantive entitlement was otherwise established, because minor procedural lapses alone should not defeat a fiscal benefit. The Tribunal treated the earlier decisions relied on by the assessee as covering the issue and upheld credit in favour of the assessee. On penalty, the Tribunal accepted that prescribed procedure had not been strictly followed and that compliance remained necessary, but found the original penalty excessive in the facts. The penalty was therefore sustained only to a limited extent and reduced to Rs. 4,000. Case-Laws Central Excise Fri, 02 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86947