https://www.taxtmi.com/caselaws?id=109044 The tribunal allowed the appeal, ruling in favor of the appellants, recognizing their eligibility for deemed credit under Notification No. 58/97-C.E. The tribunal emphasized the importance of substance over form in assessing eligibility for credit, considering the actual payment and utilization of inputs in the manufacturing process. The denial of Modvat credit solely based on the cheque being issued to other companies, as directed by the supplier, was deemed unjustified. The tribunal concluded that the inputs had suffered duty and were used in the manufacturing process, supporting the appellants' eligibility for deemed credit. en-us Thu, 24 Jul 2003 00:00:00 +0530 Thu, 05 Apr 2012 16:04:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109044 The tribunal allowed the appeal, ruling in favor of the appellants, recognizing their eligibility for deemed credit under Notification No. 58/97-C.E. The tribunal emphasized the importance of substance over form in assessing eligibility for credit, considering the actual payment and utilization of inputs in the manufacturing process. The denial of Modvat credit solely based on the cheque being issued to other companies, as directed by the supplier, was deemed unjustified. The tribunal concluded that the inputs had suffered duty and were used in the manufacturing process, supporting the appellants' eligibility for deemed credit. Case-Laws Central Excise Thu, 24 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109044