https://www.taxtmi.com/caselaws?id=84476 Interpretation of Modvat credit under Notification No. 217/86-C.E., as amended by Notification No. 97/89-C.E., was treated as a question of law requiring authoritative determination because a different Bench had taken a contrary view. The Tribunal noted that intermediate inputs moved under bond from one unit to another, and that final products in the recipient unit were cleared on payment of duty; on that basis, denial of Modvat credit on the basic inputs was considered unjustified in the earlier view. As the dispute involved fiscal scheme construction and conflicting judicial opinions, the reference applications were allowed and the questions of law were referred to the High Court. en-us Thu, 19 Oct 1995 00:00:00 +0530 Fri, 22 Jul 2011 11:52:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84476 Interpretation of Modvat credit under Notification No. 217/86-C.E., as amended by Notification No. 97/89-C.E., was treated as a question of law requiring authoritative determination because a different Bench had taken a contrary view. The Tribunal noted that intermediate inputs moved under bond from one unit to another, and that final products in the recipient unit were cleared on payment of duty; on that basis, denial of Modvat credit on the basic inputs was considered unjustified in the earlier view. As the dispute involved fiscal scheme construction and conflicting judicial opinions, the reference applications were allowed and the questions of law were referred to the High Court. Case-Laws Central Excise Thu, 19 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84476