https://www.taxtmi.com/caselaws?id=51256 Rule 57R(3) was treated as an exclusionary provision confined to the financing transactions it expressly covers, so lease, hire-purchase or loan documentation was not a universal precondition for Modvat credit on otherwise eligible capital goods received in the factory under invoices. The credit claim was therefore admissible. On limitation, filing the invoices with departmental returns and the absence of any shown duty to disclose ownership in the manner alleged meant suppression was not established, so the extended period could not be invoked; the demand was time-barred and the penalty and interest could not survive. The issue concerning parts and components of air-conditioning plant and equipment was remitted for fresh decision. en-us Thu, 18 Apr 2002 00:00:00 +0530 Fri, 09 Jan 2026 15:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51256 Rule 57R(3) was treated as an exclusionary provision confined to the financing transactions it expressly covers, so lease, hire-purchase or loan documentation was not a universal precondition for Modvat credit on otherwise eligible capital goods received in the factory under invoices. The credit claim was therefore admissible. On limitation, filing the invoices with departmental returns and the absence of any shown duty to disclose ownership in the manner alleged meant suppression was not established, so the extended period could not be invoked; the demand was time-barred and the penalty and interest could not survive. The issue concerning parts and components of air-conditioning plant and equipment was remitted for fresh decision. Case-Laws Central Excise Thu, 18 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51256