https://www.taxtmi.com/caselaws?id=116773 Modvat credit was found inadmissible where invoices were non-genuine and the evidence showed that the inputs were never actually received in the factory; the Tribunal treated the invoices as a conduit for credit transfer rather than movement of goods and rejected the limitation objection on the facts. Penalties under Rule 26 were examined separately: the manufacturers' penalties were reduced in light of credit reversal during investigation, while penalties on the other appellants were set aside because no goods were physically dealt with and no goods liable to confiscation were involved. en-us Fri, 13 Jan 2006 00:00:00 +0530 Tue, 26 Mar 2024 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116773 Modvat credit was found inadmissible where invoices were non-genuine and the evidence showed that the inputs were never actually received in the factory; the Tribunal treated the invoices as a conduit for credit transfer rather than movement of goods and rejected the limitation objection on the facts. Penalties under Rule 26 were examined separately: the manufacturers' penalties were reduced in light of credit reversal during investigation, while penalties on the other appellants were set aside because no goods were physically dealt with and no goods liable to confiscation were involved. Case-Laws Central Excise Fri, 13 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116773