https://www.taxtmi.com/caselaws?id=123382 Modvat credit for capital goods is available where substantive eligibility requirements are met, notwithstanding a technical error in filing the prescribed declaration under an incorrect rule. Capital goods classified under the relevant tariff headings remain eligible unless they fall within the specifically excluded bracketed categories in the Explanation to the capital goods credit provision. Accordingly, procedural misdescription of the declaration does not defeat otherwise valid credit, and tariff classifications not shown to be within express exclusions do not bar credit. The allowance of credit and the setting aside of penalty were upheld. en-us Mon, 11 Feb 2008 00:00:00 +0530 Thu, 13 Sep 2012 15:15:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123382 Modvat credit for capital goods is available where substantive eligibility requirements are met, notwithstanding a technical error in filing the prescribed declaration under an incorrect rule. Capital goods classified under the relevant tariff headings remain eligible unless they fall within the specifically excluded bracketed categories in the Explanation to the capital goods credit provision. Accordingly, procedural misdescription of the declaration does not defeat otherwise valid credit, and tariff classifications not shown to be within express exclusions do not bar credit. The allowance of credit and the setting aside of penalty were upheld. Case-Laws Central Excise Mon, 11 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123382