https://www.taxtmi.com/caselaws?id=31001 Transitional Modvat credit under the Central Excise Rules, 1944 was treated as allowable where duty-paid inputs in stock or received during the transition period were shown to be used in dutiable manufacture and the Rule 57G declaration had been filed and acknowledged. The denial of the entire credit was therefore not justified on the available record, although the irregularly supported portion had been reversed. Procedural non-compliance with the prescribed Modvat requirements nevertheless attracted penal consequences, and the statutory penalties were sustained despite the substantive credit relief. en-us Tue, 15 Apr 2008 00:00:00 +0530 Sat, 11 Oct 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31001 Transitional Modvat credit under the Central Excise Rules, 1944 was treated as allowable where duty-paid inputs in stock or received during the transition period were shown to be used in dutiable manufacture and the Rule 57G declaration had been filed and acknowledged. The denial of the entire credit was therefore not justified on the available record, although the irregularly supported portion had been reversed. Procedural non-compliance with the prescribed Modvat requirements nevertheless attracted penal consequences, and the statutory penalties were sustained despite the substantive credit relief. Case-Laws Central Excise Tue, 15 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31001