https://www.taxtmi.com/caselaws?id=205091 Modvat credit on imported inputs could not be denied merely because the bills of entry lacked an endorsement of intention to avail credit, where the inputs had been declared under Rule 57G and the bills stood in the assessee's name. The governing Central Excise Rules imposed no such statutory condition, and a Board circular could not add a requirement not found in the rules. On that basis, denial of credit, recovery demand, and penalty were unsustainable and were set aside. en-us Tue, 02 Nov 2010 00:00:00 +0530 Thu, 18 Aug 2011 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205091 Modvat credit on imported inputs could not be denied merely because the bills of entry lacked an endorsement of intention to avail credit, where the inputs had been declared under Rule 57G and the bills stood in the assessee's name. The governing Central Excise Rules imposed no such statutory condition, and a Board circular could not add a requirement not found in the rules. On that basis, denial of credit, recovery demand, and penalty were unsustainable and were set aside. Case-Laws Central Excise Tue, 02 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205091