https://www.taxtmi.com/caselaws?id=51018 Modvat credit on imported inputs could not be denied merely because the assessee took credit on receipt of the first lot of a split consignment rather than after the last lot. The decisive facts were that the full quantity of imported goods reached the factory and the additional customs duty had been paid, so the timing defect was only procedural and did not affect substantive entitlement. The denial of credit was treated as an overly technical reading of the excise rules, and the related demand and penalty were set aside. en-us Fri, 16 Nov 2001 00:00:00 +0530 Tue, 21 Sep 2010 14:08:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51018 Modvat credit on imported inputs could not be denied merely because the assessee took credit on receipt of the first lot of a split consignment rather than after the last lot. The decisive facts were that the full quantity of imported goods reached the factory and the additional customs duty had been paid, so the timing defect was only procedural and did not affect substantive entitlement. The denial of credit was treated as an overly technical reading of the excise rules, and the related demand and penalty were set aside. Case-Laws Central Excise Fri, 16 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51018