https://www.taxtmi.com/caselaws?id=34439 Modvat credit cannot be denied solely because procedural requirements under Chapter V(AA) were not completed when the assessee was then claiming exemption on the intermediate product. Where duty liability on the intermediate product is recognised only later, the earlier inability to follow the credit procedure does not, by itself, defeat substantive eligibility. The Court applied the principle in Formica India Division and treated the Tribunal's remand for verification of eligibility as not raising a referable question of law. The operative effect is that procedural non-compliance at the material time is not fatal if the substantive conditions for credit are otherwise satisfied. en-us Thu, 24 Mar 2005 00:00:00 +0530 Sun, 30 Aug 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34439 Modvat credit cannot be denied solely because procedural requirements under Chapter V(AA) were not completed when the assessee was then claiming exemption on the intermediate product. Where duty liability on the intermediate product is recognised only later, the earlier inability to follow the credit procedure does not, by itself, defeat substantive eligibility. The Court applied the principle in Formica India Division and treated the Tribunal's remand for verification of eligibility as not raising a referable question of law. The operative effect is that procedural non-compliance at the material time is not fatal if the substantive conditions for credit are otherwise satisfied. Case-Laws Central Excise Thu, 24 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34439