https://www.taxtmi.com/caselaws?id=75245 Mere debit in a DEPB passbook, without actual payment of additional duty, is insufficient to claim MODVAT credit on the strength of the Bill of Entry, as the earlier contrary view was no longer good law after the Larger Bench ruling. Credit was therefore held inadmissible. Penalty, however, was not imposed because the relevant period fell when a favourable Tribunal view for the assessee still existed, so the assessee's conduct was treated as supported by then-prevailing precedent. en-us Wed, 08 Jul 2009 00:00:00 +0530 Fri, 02 Apr 2010 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75245 Mere debit in a DEPB passbook, without actual payment of additional duty, is insufficient to claim MODVAT credit on the strength of the Bill of Entry, as the earlier contrary view was no longer good law after the Larger Bench ruling. Credit was therefore held inadmissible. Penalty, however, was not imposed because the relevant period fell when a favourable Tribunal view for the assessee still existed, so the assessee's conduct was treated as supported by then-prevailing precedent. Case-Laws Central Excise Wed, 08 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75245