https://www.taxtmi.com/caselaws?id=103840 Modvat credit could not be denied merely because invoices failed to satisfy prescribed procedural requirements where the inputs were duty paid, received and accounted for in statutory records, and used in manufacture. The invoice defects were treated as technical and rectifiable, and substantial compliance with the Modvat scheme was sufficient to preserve the substantive benefit. Denial of credit was therefore not justified, and the penalty was unwarranted. en-us Tue, 18 Dec 2001 00:00:00 +0530 Fri, 24 Feb 2012 17:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103840 Modvat credit could not be denied merely because invoices failed to satisfy prescribed procedural requirements where the inputs were duty paid, received and accounted for in statutory records, and used in manufacture. The invoice defects were treated as technical and rectifiable, and substantial compliance with the Modvat scheme was sufficient to preserve the substantive benefit. Denial of credit was therefore not justified, and the penalty was unwarranted. Case-Laws Central Excise Tue, 18 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103840