https://www.taxtmi.com/caselaws?id=53716 Modvat credit was held inadmissible on electrodes because the Larger Bench view treated such credit as not permissible under the law. Credit on steel forgings could not be denied merely for non-filing of a declaration where the goods were duty paid and used in relation to manufacture, so that denial was set aside. Penalty was also found unwarranted because, before the Larger Bench ruling, the admissibility of credit on electrodes had been the subject of conflicting Tribunal decisions. The order was therefore modified to sustain denial only on electrodes, allow credit on steel forgings, and set aside the penalty. en-us Thu, 18 Nov 2004 00:00:00 +0530 Thu, 14 Oct 2010 17:36:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53716 Modvat credit was held inadmissible on electrodes because the Larger Bench view treated such credit as not permissible under the law. Credit on steel forgings could not be denied merely for non-filing of a declaration where the goods were duty paid and used in relation to manufacture, so that denial was set aside. Penalty was also found unwarranted because, before the Larger Bench ruling, the admissibility of credit on electrodes had been the subject of conflicting Tribunal decisions. The order was therefore modified to sustain denial only on electrodes, allow credit on steel forgings, and set aside the penalty. Case-Laws Central Excise Thu, 18 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53716