https://www.taxtmi.com/caselaws?id=94834 Modvat credit on imported capital goods was not liable to reversal where Unit No. 1 ordered the goods, filed the Bills of Entry and duty payment in its name, received and installed the goods in its premises, and filed the Rule 57T declaration. The only objection was that the EPCG licence initially stood in the name of another unit, but the Tribunal treated that as a procedural issue that did not defeat credit entitlement on these facts. It also noted that the later DGFT regularisation of the import for Unit No. 1 removed the alleged licence defect, which could not justify reversal of credit under central excise law or sustain penalties. en-us Wed, 16 Feb 2000 00:00:00 +0530 Mon, 05 Dec 2011 11:44:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94834 Modvat credit on imported capital goods was not liable to reversal where Unit No. 1 ordered the goods, filed the Bills of Entry and duty payment in its name, received and installed the goods in its premises, and filed the Rule 57T declaration. The only objection was that the EPCG licence initially stood in the name of another unit, but the Tribunal treated that as a procedural issue that did not defeat credit entitlement on these facts. It also noted that the later DGFT regularisation of the import for Unit No. 1 removed the alleged licence defect, which could not justify reversal of credit under central excise law or sustain penalties. Case-Laws Central Excise Wed, 16 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94834