https://www.taxtmi.com/caselaws?id=95290 Modvat credit under Rule 57G(2) could be taken only on the basis of the prescribed triplicate copy of Bill of Entry, and a quadruplicate copy was not a valid substitute. The requirement was treated as mandatory, so the assessee was denied credit on a non-prescribed document. Penalty, however, was found unjustified on the facts, as the Tribunal held that the circumstances did not warrant penal action despite the credit denial. The denial of Modvat credit was therefore sustained, while the penalty was set aside. en-us Wed, 17 Jan 2001 00:00:00 +0530 Fri, 09 Dec 2011 13:55:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95290 Modvat credit under Rule 57G(2) could be taken only on the basis of the prescribed triplicate copy of Bill of Entry, and a quadruplicate copy was not a valid substitute. The requirement was treated as mandatory, so the assessee was denied credit on a non-prescribed document. Penalty, however, was found unjustified on the facts, as the Tribunal held that the circumstances did not warrant penal action despite the credit denial. The denial of Modvat credit was therefore sustained, while the penalty was set aside. Case-Laws Central Excise Wed, 17 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95290