https://www.taxtmi.com/caselaws?id=105401 Modvat credit on imported copper alloy bar was treated as not automatically barred merely because a formal declaration under Rule 57G was not filed, where the assessee had already intimated the department of its intended credit availment and the goods were cleared as such after reversal of credit. The revenue-neutral nature of the transaction supported acceptance of the credit in principle. However, the Tribunal required verification of the invoices showing clearance by reversal of credit, as that factual basis had not been produced. The matter was therefore remanded for factual verification, with credit to be allowed if the documents establish the stated position. en-us Mon, 29 Oct 2001 00:00:00 +0530 Mon, 05 Mar 2012 15:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105401 Modvat credit on imported copper alloy bar was treated as not automatically barred merely because a formal declaration under Rule 57G was not filed, where the assessee had already intimated the department of its intended credit availment and the goods were cleared as such after reversal of credit. The revenue-neutral nature of the transaction supported acceptance of the credit in principle. However, the Tribunal required verification of the invoices showing clearance by reversal of credit, as that factual basis had not been produced. The matter was therefore remanded for factual verification, with credit to be allowed if the documents establish the stated position. Case-Laws Central Excise Mon, 29 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105401