https://www.taxtmi.com/caselaws?id=112724 Modvat credit could not be denied merely because the declaration was filed late, where the credit was taken only after filing and the assessee furnished an explanation for the delay. A Board circular clarified that credit should not be refused solely on the ground that the declaration was filed after receipt of capital goods, provided a proper declaration and delay explanation were available. The dispute was therefore covered by the circular, and denial of credit on delay alone was impermissible. en-us Wed, 17 Sep 2003 00:00:00 +0530 Tue, 01 May 2012 14:59:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112724 Modvat credit could not be denied merely because the declaration was filed late, where the credit was taken only after filing and the assessee furnished an explanation for the delay. A Board circular clarified that credit should not be refused solely on the ground that the declaration was filed after receipt of capital goods, provided a proper declaration and delay explanation were available. The dispute was therefore covered by the circular, and denial of credit on delay alone was impermissible. Case-Laws Central Excise Wed, 17 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112724