https://www.taxtmi.com/caselaws?id=52415 Modvat credit on imported capital goods was allowed where the endorsed bill of entry was duly approved by Customs and the goods, though first received at the importer's premises, remained packed and were ultimately used by the recipient unit in manufacturing dutiable goods. The procedural delay in forwarding the goods did not defeat credit because the substantive requirements were satisfied, and direct purchase in the recipient's name was not treated as a prerequisite. Penalty on the importer was also not sustainable once the recipient unit's credit eligibility was accepted on the endorsed bill of entry and compliance with procedure. en-us Mon, 27 Oct 2003 00:00:00 +0530 Thu, 04 Jul 2024 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52415 Modvat credit on imported capital goods was allowed where the endorsed bill of entry was duly approved by Customs and the goods, though first received at the importer's premises, remained packed and were ultimately used by the recipient unit in manufacturing dutiable goods. The procedural delay in forwarding the goods did not defeat credit because the substantive requirements were satisfied, and direct purchase in the recipient's name was not treated as a prerequisite. Penalty on the importer was also not sustainable once the recipient unit's credit eligibility was accepted on the endorsed bill of entry and compliance with procedure. Case-Laws Central Excise Mon, 27 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52415