https://www.taxtmi.com/caselaws?id=51473 Modvat credit was held admissible only on inputs physically received in the factory under the duty-paying documents; inputs short-received at the factory weighbridge could not be treated as received merely because duty had been paid on the port weighment quantity, so the credit recovery was upheld. For limitation, suppression of the short receipt and the practice of availing credit on the higher port quantity was sufficient to invoke the extended period for recovery of wrongly taken credit. For penalty, the separate statutory requirement of knowing or reason-to-believe wrongful availment had to be shown, and the record did not support that higher threshold. en-us Thu, 30 May 2002 00:00:00 +0530 Sat, 25 Sep 2010 09:54:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51473 Modvat credit was held admissible only on inputs physically received in the factory under the duty-paying documents; inputs short-received at the factory weighbridge could not be treated as received merely because duty had been paid on the port weighment quantity, so the credit recovery was upheld. For limitation, suppression of the short receipt and the practice of availing credit on the higher port quantity was sufficient to invoke the extended period for recovery of wrongly taken credit. For penalty, the separate statutory requirement of knowing or reason-to-believe wrongful availment had to be shown, and the record did not support that higher threshold. Case-Laws Central Excise Thu, 30 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51473