https://www.taxtmi.com/caselaws?id=124308 Modvat credit cannot be denied, and penalties cannot be sustained, where duty-paid imported inputs are admittedly received in the factory and used in manufacture of dutiable final products. A procedural lapse, such as non-endorsement of the Bills of Entry for diversion of goods to the appellant's factory, does not override substantive entitlement when the credit claim is otherwise established. The scheme is to be applied effectively, and technical irregularities alone are insufficient to defeat the benefit or justify penal action. en-us Fri, 19 Sep 2008 00:00:00 +0530 Wed, 30 Aug 2017 09:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124308 Modvat credit cannot be denied, and penalties cannot be sustained, where duty-paid imported inputs are admittedly received in the factory and used in manufacture of dutiable final products. A procedural lapse, such as non-endorsement of the Bills of Entry for diversion of goods to the appellant's factory, does not override substantive entitlement when the credit claim is otherwise established. The scheme is to be applied effectively, and technical irregularities alone are insufficient to defeat the benefit or justify penal action. Case-Laws Central Excise Fri, 19 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124308