https://www.taxtmi.com/caselaws?id=85017 Transitional Modvat credit under Rule 57H turned on the date inputs were received and placed in stock before acknowledgment of the declaration, not on the later date of claiming credit. The majority treated Notification No. 149/87-C.E. as a prospective restriction and held that a beneficial credit scheme should be construed in favour of the assessee, so inputs received before the restriction could qualify for full duty-paid credit. A dissenting view applied the rate prevailing when transitional credit became claimable and would have confined credit to the restricted rate. en-us Tue, 26 Dec 1995 00:00:00 +0530 Tue, 02 Aug 2011 12:16:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85017 Transitional Modvat credit under Rule 57H turned on the date inputs were received and placed in stock before acknowledgment of the declaration, not on the later date of claiming credit. The majority treated Notification No. 149/87-C.E. as a prospective restriction and held that a beneficial credit scheme should be construed in favour of the assessee, so inputs received before the restriction could qualify for full duty-paid credit. A dissenting view applied the rate prevailing when transitional credit became claimable and would have confined credit to the restricted rate. Case-Laws Central Excise Tue, 26 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85017