https://www.taxtmi.com/caselaws?id=50349 Rule 57G declaration was treated as a substantive precondition for availing Modvat credit, not a mere procedural formality. Because the assessee received the inputs and filed the declaration only belatedly without seeking condonation of delay, non-compliance with the declaration requirement disentitled it to credit. On the separate question of penalty, the Tribunal found no justification on the facts and set it aside. The result was denial of Modvat credit with deletion of penalty. en-us Tue, 06 Jun 2000 00:00:00 +0530 Sat, 21 Aug 2010 12:22:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50349 Rule 57G declaration was treated as a substantive precondition for availing Modvat credit, not a mere procedural formality. Because the assessee received the inputs and filed the declaration only belatedly without seeking condonation of delay, non-compliance with the declaration requirement disentitled it to credit. On the separate question of penalty, the Tribunal found no justification on the facts and set it aside. The result was denial of Modvat credit with deletion of penalty. Case-Laws Central Excise Tue, 06 Jun 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50349