https://www.taxtmi.com/caselaws?id=104142 Modvat credit on sockets was denied where a substantial quantity of inputs remained unaccounted for in invoices and records, and the manufacturer failed to establish satisfactory use of the disputed inputs in or in relation to manufacture; the denial of credit was upheld. On penalty, the Tribunal found the original amount excessive in the circumstances while sustaining the substantive demand, and the penalty was reduced to Rs. 50,000. en-us Thu, 21 Feb 2002 00:00:00 +0530 Mon, 27 Feb 2012 18:37:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104142 Modvat credit on sockets was denied where a substantial quantity of inputs remained unaccounted for in invoices and records, and the manufacturer failed to establish satisfactory use of the disputed inputs in or in relation to manufacture; the denial of credit was upheld. On penalty, the Tribunal found the original amount excessive in the circumstances while sustaining the substantive demand, and the penalty was reduced to Rs. 50,000. Case-Laws Central Excise Thu, 21 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104142