https://www.taxtmi.com/caselaws?id=87780 Credit accumulated under Notification No. 103/61 does not lapse merely because the notification is rescinded, if the underlying entitlement is later upheld. Where a dealer opts for Modvat after the scheme's introduction and the set-off claim is resolved only afterwards, the accumulated credit may be treated as lying in balance immediately before the relevant Modvat declaration. On that basis, the transitional facility under Rule 57H(3) permits transfer of the credit into the Modvat account, and prior Tribunal authority supporting transfer of balance credit was followed while the contrary precedent was distinguished on facts. en-us Fri, 27 Jun 1997 00:00:00 +0530 Sat, 10 Sep 2011 12:43:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87780 Credit accumulated under Notification No. 103/61 does not lapse merely because the notification is rescinded, if the underlying entitlement is later upheld. Where a dealer opts for Modvat after the scheme's introduction and the set-off claim is resolved only afterwards, the accumulated credit may be treated as lying in balance immediately before the relevant Modvat declaration. On that basis, the transitional facility under Rule 57H(3) permits transfer of the credit into the Modvat account, and prior Tribunal authority supporting transfer of balance credit was followed while the contrary precedent was distinguished on facts. Case-Laws Central Excise Fri, 27 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87780