https://www.taxtmi.com/caselaws?id=100110 Taking Modvat credit before filing the transitional declaration under Rule 57H was a procedural contravention, but it could not by itself justify denial of the substantive credit where the exercise was revenue neutral. If the credit was reversed and later re-taken after the claim was allowed, no revenue prejudice arose. The assessee had to be given an opportunity to prove that the inputs were in stock as such or contained in finished goods. Denial on the procedural lapse alone was therefore unjustified, and the matter was remanded for fresh decision on evidence. en-us Mon, 28 May 2001 00:00:00 +0530 Tue, 31 Jan 2012 12:25:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100110 Taking Modvat credit before filing the transitional declaration under Rule 57H was a procedural contravention, but it could not by itself justify denial of the substantive credit where the exercise was revenue neutral. If the credit was reversed and later re-taken after the claim was allowed, no revenue prejudice arose. The assessee had to be given an opportunity to prove that the inputs were in stock as such or contained in finished goods. Denial on the procedural lapse alone was therefore unjustified, and the matter was remanded for fresh decision on evidence. Case-Laws Central Excise Mon, 28 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100110