https://www.taxtmi.com/caselaws?id=50952 Modvat credit remained admissible where duty-paid inputs were received under excise invoices, duly recorded, and used in manufacturing dutiable final products, even though they were supplied free of cost or moved by stock transfer rather than conventional sale. The excise context treated "sale" broadly enough to include stock transfer and book adjustment within the same organisation, so the absence of a traditional sale did not defeat credit eligibility. Once credit was allowable, the penalty could not survive because its foundation had gone. Revenue's appeals were dismissed. en-us Mon, 03 Sep 2001 00:00:00 +0530 Mon, 20 Sep 2010 17:24:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50952 Modvat credit remained admissible where duty-paid inputs were received under excise invoices, duly recorded, and used in manufacturing dutiable final products, even though they were supplied free of cost or moved by stock transfer rather than conventional sale. The excise context treated "sale" broadly enough to include stock transfer and book adjustment within the same organisation, so the absence of a traditional sale did not defeat credit eligibility. Once credit was allowable, the penalty could not survive because its foundation had gone. Revenue's appeals were dismissed. Case-Laws Central Excise Mon, 03 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50952