https://www.taxtmi.com/caselaws?id=84483 An exemption notification was read as covering CTD bars, and the later amendment was treated as clarificatory and retrospective because the tariff history, circulars and trade notices showed a consistent intent to exempt the goods. Modvat credit was held admissible where duty-paid inputs were supported by filings and verification, and procedural defects such as missing declarations did not defeat substantive entitlement. The extended limitation period was found inapplicable because the record showed departmental awareness and no suppression or deliberate misstatement. Penalty was also unsustainable once exemption, credit entitlement and limitation were resolved in the assessees' favour. en-us Thu, 23 Mar 1995 00:00:00 +0530 Fri, 22 Jul 2011 12:08:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84483 An exemption notification was read as covering CTD bars, and the later amendment was treated as clarificatory and retrospective because the tariff history, circulars and trade notices showed a consistent intent to exempt the goods. Modvat credit was held admissible where duty-paid inputs were supported by filings and verification, and procedural defects such as missing declarations did not defeat substantive entitlement. The extended limitation period was found inapplicable because the record showed departmental awareness and no suppression or deliberate misstatement. Penalty was also unsustainable once exemption, credit entitlement and limitation were resolved in the assessees' favour. Case-Laws Central Excise Thu, 23 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84483