https://www.taxtmi.com/caselaws?id=2266 Transitional Cenvat credit on stock lying in the factory could not be denied merely because credit was taken belatedly or because value particulars were not furnished, where the duty-paid nature of the goods and the stock position were undisputed. The omission was treated as a procedural lapse, and the department's awareness of the stock was relevant in rejecting the objection. On that basis, denial of credit was not justified and recovery and penal provisions were not attracted. The assessee was therefore entitled to the transitional credit. en-us Mon, 11 Jun 2007 00:00:00 +0530 Tue, 15 Apr 2008 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2266 Transitional Cenvat credit on stock lying in the factory could not be denied merely because credit was taken belatedly or because value particulars were not furnished, where the duty-paid nature of the goods and the stock position were undisputed. The omission was treated as a procedural lapse, and the department's awareness of the stock was relevant in rejecting the objection. On that basis, denial of credit was not justified and recovery and penal provisions were not attracted. The assessee was therefore entitled to the transitional credit. Case-Laws Central Excise Mon, 11 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2266