https://www.taxtmi.com/caselaws?id=114629 Where packing charges were excluded from the assessable value of the final product, Rule 57B(2)(iii) barred Modvat credit on the packing material, so credit on BOPP tape was disallowed. Penalty was not sustainable because the record did not establish fraud, wilful misstatement, collusion, or suppression of facts with intent to evade duty. The credit disallowance was therefore upheld, while the penalty portion was set aside. en-us Fri, 08 Oct 2004 00:00:00 +0530 Fri, 18 May 2012 15:30:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114629 Where packing charges were excluded from the assessable value of the final product, Rule 57B(2)(iii) barred Modvat credit on the packing material, so credit on BOPP tape was disallowed. Penalty was not sustainable because the record did not establish fraud, wilful misstatement, collusion, or suppression of facts with intent to evade duty. The credit disallowance was therefore upheld, while the penalty portion was set aside. Case-Laws Central Excise Fri, 08 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114629