https://www.taxtmi.com/caselaws?id=82039 Modvat credit validly taken and utilised during the currency of the scheme could not be recovered merely because the scheme was later withdrawn and the inputs remained in stock when the final product ceased to be specified goods, absent any express provision authorising retrospective reversal. The Tribunal held that a credit right crystallised under the concession could not be taken away by later notification changes, especially where the final product remained dutiable. The extended limitation period was also unavailable because the record disclosed no collusion, wilful misstatement, or suppression of facts; at most, the dispute reflected a mistaken legal view. The demand was therefore unsustainable. en-us Wed, 12 Aug 1992 00:00:00 +0530 Fri, 01 Jul 2011 15:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82039 Modvat credit validly taken and utilised during the currency of the scheme could not be recovered merely because the scheme was later withdrawn and the inputs remained in stock when the final product ceased to be specified goods, absent any express provision authorising retrospective reversal. The Tribunal held that a credit right crystallised under the concession could not be taken away by later notification changes, especially where the final product remained dutiable. The extended limitation period was also unavailable because the record disclosed no collusion, wilful misstatement, or suppression of facts; at most, the dispute reflected a mistaken legal view. The demand was therefore unsustainable. Case-Laws Central Excise Wed, 12 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82039