https://www.taxtmi.com/caselaws?id=109058 Penalty under Rule 209(1)(bb) was held unwarranted where the Rule 57T declaration for capital goods was filed after receipt of the goods but before Modvat credit was taken. The capital goods had been received and used in manufacture, and an application for condonation of delay was also made. Relying on the Board's circular, the text states that credit should not be denied merely because the declaration was filed after receipt, so long as it was filed before credit was availed. On those facts, the delayed declaration did not justify penalty. en-us Mon, 04 Aug 2003 00:00:00 +0530 Thu, 05 Apr 2012 16:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109058 Penalty under Rule 209(1)(bb) was held unwarranted where the Rule 57T declaration for capital goods was filed after receipt of the goods but before Modvat credit was taken. The capital goods had been received and used in manufacture, and an application for condonation of delay was also made. Relying on the Board's circular, the text states that credit should not be denied merely because the declaration was filed after receipt, so long as it was filed before credit was availed. On those facts, the delayed declaration did not justify penalty. Case-Laws Central Excise Mon, 04 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109058