https://www.taxtmi.com/caselaws?id=270143 The Court upheld the Tribunal's decision in favor of the assessee, dismissing the appeal brought by the Revenue. The Court emphasized that denial of Modvat credit solely based on the absence of a certificate would be unjust, citing a Supreme Court judgment. It considered practical constraints and legal provisions, ruling that non-compliance with Rule 57R(3) should not permanently disqualify the assessee from benefits. The judgment underscored the importance of fairness and justice in determining eligibility for Modvat credit, impacting the ability of the financing company to claim depreciation on capital goods linked to the countervailing duty claimed as Modvat credit. en-us Thu, 10 Dec 2015 00:00:00 +0530 Thu, 05 May 2016 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270143 The Court upheld the Tribunal's decision in favor of the assessee, dismissing the appeal brought by the Revenue. The Court emphasized that denial of Modvat credit solely based on the absence of a certificate would be unjust, citing a Supreme Court judgment. It considered practical constraints and legal provisions, ruling that non-compliance with Rule 57R(3) should not permanently disqualify the assessee from benefits. The judgment underscored the importance of fairness and justice in determining eligibility for Modvat credit, impacting the ability of the financing company to claim depreciation on capital goods linked to the countervailing duty claimed as Modvat credit. Case-Laws Central Excise Thu, 10 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270143