https://www.taxtmi.com/caselaws?id=53320 Modvat credit was denied where duty-paid inputs were not shown to have been received in the factory and the managing director's unretracted statement indicated that only invoices, not goods, had been received. On the same facts, a duty demand on finished goods could not be sustained on the theory that the allegedly short inputs had been used in manufacture, because that approach was inconsistent with the finding of non-receipt. Acrylic staple fibre found in the factory without bills and without statutory entry was liable to confiscation, but the redemption fine and penalties were reduced, including the penalty on the managing director under Rule 209A. en-us Fri, 05 Mar 2004 00:00:00 +0530 Tue, 12 Oct 2010 16:05:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53320 Modvat credit was denied where duty-paid inputs were not shown to have been received in the factory and the managing director's unretracted statement indicated that only invoices, not goods, had been received. On the same facts, a duty demand on finished goods could not be sustained on the theory that the allegedly short inputs had been used in manufacture, because that approach was inconsistent with the finding of non-receipt. Acrylic staple fibre found in the factory without bills and without statutory entry was liable to confiscation, but the redemption fine and penalties were reduced, including the penalty on the managing director under Rule 209A. Case-Laws Central Excise Fri, 05 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53320