https://www.taxtmi.com/caselaws?id=95735 Contemporaneous documents, production reports and admissions by responsible company officials can substantiate clandestine removal and suppression of production when the explanation is unsupported by records, and the duty demand was upheld on that basis. Modvat credit requires proof of actual receipt of inputs in the factory and compliance with the prescribed procedure; in the absence of reliable evidence of receipt and lawful movement, the credit was denied. Because the substantive duty demand and credit disallowance were sustained, penalty was justified, though reduced on the facts, and interest was confined to the duty component rather than the disallowed credit amount. en-us Wed, 20 Sep 2000 00:00:00 +0530 Wed, 14 Dec 2011 16:00:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95735 Contemporaneous documents, production reports and admissions by responsible company officials can substantiate clandestine removal and suppression of production when the explanation is unsupported by records, and the duty demand was upheld on that basis. Modvat credit requires proof of actual receipt of inputs in the factory and compliance with the prescribed procedure; in the absence of reliable evidence of receipt and lawful movement, the credit was denied. Because the substantive duty demand and credit disallowance were sustained, penalty was justified, though reduced on the facts, and interest was confined to the duty component rather than the disallowed credit amount. Case-Laws Central Excise Wed, 20 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95735