https://www.taxtmi.com/caselaws?id=52005 Modvat credit is not admissible for inputs fully written off in accounts, not physically available, and unsupported by evidence of use in manufacturing final products. The distinction between partially written-off inputs capable of use and fully written-off unavailable inputs supports denial of credit. Penalty for inadmissible credit may nevertheless be moderated where the surrounding facts justify reducing its quantum. The credit denial remained effective, while the penalty was reduced. en-us Tue, 25 Feb 2003 00:00:00 +0530 Wed, 29 Sep 2010 17:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52005 Modvat credit is not admissible for inputs fully written off in accounts, not physically available, and unsupported by evidence of use in manufacturing final products. The distinction between partially written-off inputs capable of use and fully written-off unavailable inputs supports denial of credit. Penalty for inadmissible credit may nevertheless be moderated where the surrounding facts justify reducing its quantum. The credit denial remained effective, while the penalty was reduced. Case-Laws Central Excise Tue, 25 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52005