https://www.taxtmi.com/caselaws?id=127985 Modvat credit on capital goods was treated as a substantive entitlement where receipt and use of the goods in the factory were undisputed. Credit was denied only for items with no declaration at all, but was allowed where declarations were filed within time or the delay was merely procedural, because the purpose of the declaration was verification rather than defeat of credit. The commentary also notes that, once the dispute was largely procedural and credit was substantially allowed, the penalty did not survive and was set aside. en-us Fri, 31 Jul 2009 00:00:00 +0530 Mon, 25 Mar 2013 15:18:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=127985 Modvat credit on capital goods was treated as a substantive entitlement where receipt and use of the goods in the factory were undisputed. Credit was denied only for items with no declaration at all, but was allowed where declarations were filed within time or the delay was merely procedural, because the purpose of the declaration was verification rather than defeat of credit. The commentary also notes that, once the dispute was largely procedural and credit was substantially allowed, the penalty did not survive and was set aside. Case-Laws Central Excise Fri, 31 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=127985