https://www.taxtmi.com/caselaws?id=114197 Modvat credit on duty-paid capital goods cannot be denied solely because declaration and intimation were filed late when the delay arose from installation, repairs, or initial operational difficulties. The applicable Board circular recognised that credit on capital goods may not always be taken within the prescribed period, and the Revenue was bound by that instruction. As the machinery's eligibility and duty-paid character were undisputed, procedural delay could not defeat the credit claim. The disallowance of credit and associated penalty were therefore set aside in favour of the assessee. en-us Wed, 10 Sep 2003 00:00:00 +0530 Sat, 12 May 2012 11:28:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114197 Modvat credit on duty-paid capital goods cannot be denied solely because declaration and intimation were filed late when the delay arose from installation, repairs, or initial operational difficulties. The applicable Board circular recognised that credit on capital goods may not always be taken within the prescribed period, and the Revenue was bound by that instruction. As the machinery's eligibility and duty-paid character were undisputed, procedural delay could not defeat the credit claim. The disallowance of credit and associated penalty were therefore set aside in favour of the assessee. Case-Laws Central Excise Wed, 10 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114197