https://www.taxtmi.com/caselaws?id=114413 Modvat credit on capital goods could not be denied merely because the declaration was filed late when the delay was limited to three months and the receipt and use of the goods in manufacture were undisputed. Under the amended Rule 57G, the Assistant Commissioner had discretion to condone delay, and the declaration requirement was procedural rather than substantive. Detailed reasons for condonation were not mandatory where the substantive conditions for credit were met. The reversal by the Commissioner (Appeals), based only on the absence of recorded reasons for condonation, was unsustainable, and the assessee remained entitled to the credit. en-us Mon, 13 Sep 2004 00:00:00 +0530 Tue, 15 May 2012 14:46:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114413 Modvat credit on capital goods could not be denied merely because the declaration was filed late when the delay was limited to three months and the receipt and use of the goods in manufacture were undisputed. Under the amended Rule 57G, the Assistant Commissioner had discretion to condone delay, and the declaration requirement was procedural rather than substantive. Detailed reasons for condonation were not mandatory where the substantive conditions for credit were met. The reversal by the Commissioner (Appeals), based only on the absence of recorded reasons for condonation, was unsustainable, and the assessee remained entitled to the credit. Case-Laws Central Excise Mon, 13 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114413