https://www.taxtmi.com/caselaws?id=95591 Modvat credit could not be denied merely because the declaration was filed after receipt or use of inputs, where the prescribed conditions under Rule 57G(5) were otherwise satisfied. The statutory scheme required the Assistant Commissioner to be satisfied that the conditions for credit were met; in the absence of any recorded dissatisfaction on those conditions, timing of the declaration alone was not a valid ground for refusal. On that basis, denial of credit and penalty was held unsustainable, and the assessee was found entitled to the credit with consequential relief. en-us Tue, 22 Feb 2000 00:00:00 +0530 Tue, 13 Dec 2011 16:16:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95591 Modvat credit could not be denied merely because the declaration was filed after receipt or use of inputs, where the prescribed conditions under Rule 57G(5) were otherwise satisfied. The statutory scheme required the Assistant Commissioner to be satisfied that the conditions for credit were met; in the absence of any recorded dissatisfaction on those conditions, timing of the declaration alone was not a valid ground for refusal. On that basis, denial of credit and penalty was held unsustainable, and the assessee was found entitled to the credit with consequential relief. Case-Laws Central Excise Tue, 22 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95591