https://www.taxtmi.com/caselaws?id=75626 Transitional Cenvat credit under Rule 9A(3) for textile stock was treated as a vested benefit once validly availed under Notification No. 35/2003-CE. The later Notification No. 47/2003-CE, which amended the notified table, was held not to operate retrospectively because no express retrospective language authorised withdrawal or reduction of credit already earned. Subordinate legislation could not curtail an accrued tax entitlement after the assessee had computed and availed the credit under the earlier notification. The assessee's claim to the transitional credit was upheld, and the disallowance of credit, demand, interest and penalty was set aside. en-us Thu, 04 Mar 2010 00:00:00 +0530 Sat, 28 Aug 2010 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75626 Transitional Cenvat credit under Rule 9A(3) for textile stock was treated as a vested benefit once validly availed under Notification No. 35/2003-CE. The later Notification No. 47/2003-CE, which amended the notified table, was held not to operate retrospectively because no express retrospective language authorised withdrawal or reduction of credit already earned. Subordinate legislation could not curtail an accrued tax entitlement after the assessee had computed and availed the credit under the earlier notification. The assessee's claim to the transitional credit was upheld, and the disallowance of credit, demand, interest and penalty was set aside. Case-Laws Central Excise Thu, 04 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75626