https://www.taxtmi.com/caselaws?id=122523 In a duty demand arising from alleged clandestine removals, duty computation had to account for Modvat credit on duty-paid inputs and the assessable value had to be worked on a cum-duty basis. The Tribunal noted that the evidence of duty-paid receipt of compressors was not properly considered, and applied the principle that credit cannot be denied merely for non-compliance with Modvat procedure. On that basis, the available credit exceeded the duty confirmed, leaving no net duty liability and rendering the demand and connected penalties unsustainable. en-us Mon, 05 Feb 2007 00:00:00 +0530 Tue, 14 Aug 2012 13:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122523 In a duty demand arising from alleged clandestine removals, duty computation had to account for Modvat credit on duty-paid inputs and the assessable value had to be worked on a cum-duty basis. The Tribunal noted that the evidence of duty-paid receipt of compressors was not properly considered, and applied the principle that credit cannot be denied merely for non-compliance with Modvat procedure. On that basis, the available credit exceeded the duty confirmed, leaving no net duty liability and rendering the demand and connected penalties unsustainable. Case-Laws Central Excise Mon, 05 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122523