https://www.taxtmi.com/caselaws?id=822 Modvat credit was discussed in the context of Rule 57R(5), which barred simultaneous depreciation on the duty element in the income-tax return. The text notes that where the assessee itself detected the mistake and filed a revised return, the irregularity was treated as regularised and the credit position could not be questioned on the footing that the defect continued. It also records that penalty was unsustainable because the assessee had not been put on notice for the specific penalty provision ultimately invoked, and the show-cause notice referred to different provisions. The impugned order was therefore set aside with consequential relief. en-us Thu, 20 Jul 2006 00:00:00 +0530 Sun, 13 Apr 2008 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=822 Modvat credit was discussed in the context of Rule 57R(5), which barred simultaneous depreciation on the duty element in the income-tax return. The text notes that where the assessee itself detected the mistake and filed a revised return, the irregularity was treated as regularised and the credit position could not be questioned on the footing that the defect continued. It also records that penalty was unsustainable because the assessee had not been put on notice for the specific penalty provision ultimately invoked, and the show-cause notice referred to different provisions. The impugned order was therefore set aside with consequential relief. Case-Laws Central Excise Thu, 20 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=822