https://www.taxtmi.com/caselaws?id=111887 Modvat credit on imported inputs was treated as admissible where the duty remittances were credited to the Government treasury and the goods were received and used without dispute. In the absence of evidence that the manufacturer knew of, or participated in, any fabrication by the clearing agent, penalties were not justified. The document also notes that verification requirements in the trade notice and Board instructions meant the alleged irregularity should have been detected earlier; on those facts, the demand was held barred by limitation. The impugned reversal of credit and penalties were therefore unsustainable. en-us Fri, 30 Jan 2004 00:00:00 +0530 Tue, 25 Jun 2024 20:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111887 Modvat credit on imported inputs was treated as admissible where the duty remittances were credited to the Government treasury and the goods were received and used without dispute. In the absence of evidence that the manufacturer knew of, or participated in, any fabrication by the clearing agent, penalties were not justified. The document also notes that verification requirements in the trade notice and Board instructions meant the alleged irregularity should have been detected earlier; on those facts, the demand was held barred by limitation. The impugned reversal of credit and penalties were therefore unsustainable. Case-Laws Central Excise Fri, 30 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111887