https://www.taxtmi.com/caselaws?id=54335 Modvat credit was held admissible for normal transit loss of liquid oxygen, a highly volatile commodity, because the record did not show abnormal loss and denial could not rest solely on a lower receipt quantity. Credit was not allowed for decantation loss, as the assessee accepted the revised quantified liability and no substantive basis was recorded for that claim. Penalty was deleted because the duty attributable to the dispute had already been voluntarily paid before the show cause notice, and the payment exceeded the revised computation. Relief was therefore granted only for transit loss and penalty, with decantation loss disallowed. en-us Thu, 06 Jan 2005 00:00:00 +0530 Tue, 19 Oct 2010 14:01:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54335 Modvat credit was held admissible for normal transit loss of liquid oxygen, a highly volatile commodity, because the record did not show abnormal loss and denial could not rest solely on a lower receipt quantity. Credit was not allowed for decantation loss, as the assessee accepted the revised quantified liability and no substantive basis was recorded for that claim. Penalty was deleted because the duty attributable to the dispute had already been voluntarily paid before the show cause notice, and the payment exceeded the revised computation. Relief was therefore granted only for transit loss and penalty, with decantation loss disallowed. Case-Laws Central Excise Thu, 06 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54335