https://www.taxtmi.com/caselaws?id=87012 Money credit under Rule 57K was unavailable for inputs attributable to the portion of an intermediate product cleared without duty under an exemption notification, because exempted clearances attracted the credit restriction under Rule 57L. The Tribunal therefore sustained denial of money credit on that issue. On Modvat credit for duty-paid molasses, the assessee's failure to pursue the declaration earlier was not treated as fatal where that omission resulted from the department's earlier acceptance of full money credit on the intermediate product. The Modvat claim was remanded for de novo verification of duty payment, utilisation, and substantial compliance. en-us Mon, 02 Jun 1997 00:00:00 +0530 Mon, 29 Aug 2011 18:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87012 Money credit under Rule 57K was unavailable for inputs attributable to the portion of an intermediate product cleared without duty under an exemption notification, because exempted clearances attracted the credit restriction under Rule 57L. The Tribunal therefore sustained denial of money credit on that issue. On Modvat credit for duty-paid molasses, the assessee's failure to pursue the declaration earlier was not treated as fatal where that omission resulted from the department's earlier acceptance of full money credit on the intermediate product. The Modvat claim was remanded for de novo verification of duty payment, utilisation, and substantial compliance. Case-Laws Central Excise Mon, 02 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87012