https://www.taxtmi.com/caselaws?id=99399 Modvat credit could not be denied solely because the Rule 57G declaration was filed after the credit was taken, where the delay was satisfactorily explained and showed no mala fides; the procedural lapse was capable of condonation, so the denial was unsustainable. Credit taken under Rule 57H also could not be disallowed on the ground that the declaration was filed later, because the credit was otherwise available on filing and the adjustment was revenue neutral with no revenue loss. On both issues, the demand and penalty were set aside and the assessee obtained relief. en-us Wed, 20 Dec 2000 00:00:00 +0530 Fri, 27 Jan 2012 11:54:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99399 Modvat credit could not be denied solely because the Rule 57G declaration was filed after the credit was taken, where the delay was satisfactorily explained and showed no mala fides; the procedural lapse was capable of condonation, so the denial was unsustainable. Credit taken under Rule 57H also could not be disallowed on the ground that the declaration was filed later, because the credit was otherwise available on filing and the adjustment was revenue neutral with no revenue loss. On both issues, the demand and penalty were set aside and the assessee obtained relief. Case-Laws Central Excise Wed, 20 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99399