Rajesh Balia, J.-Heard learned Counsel for the parties.

2. This appeal under Section 35-G of the Central Excise Act, 1944, is against the order of the Customs, Excise and Service Tax Appellate Tribunal, New Delhi, dated 25.05.2004.

3. The substantial question which was framed at the time of admission which arose for consideration reads as under:

4. " Whether in the facts and circumstances of the case, keeping in view the provisions of Rule 47-T(3) of the Central Excise Rules, 1944, the Tribunal was justified in allowing the respondent to avail the modvat credit on ground of delayed filing of declaration?"

5. Briefly stated the facts necessary for the present purpose which led to this appeal are that the respondent assessee has availed MODVAT credit of Duty paid on capital goods received in factory as per

Rule 57-Q of Central Excise Rules, 1944. However, declaration required to be filed under Section 57-T(1) was filed after 3 months of the receipt of the capital goods in factory and availing MODVAT credit of duty. It is stated that the goods were received in factory on 31.03.2000 vide invoice dated 16.03.2000. However, declarations were made on 12th of July 2000 by which per