https://www.taxtmi.com/caselaws?id=88831 Duty on stems used in the manufacture of exempted low-wattage bulbs was not recoverable without first giving effect to admissible Modvat credit on duty-paid inputs used in those stems. The proper course was to verify the credit available and adjust it against the duty demand, with only any balance remaining payable. On the facts, penal action was not justified because the demand itself had to be recalculated after credit set-off and no warranting circumstances were shown. The result was relief to the extent of Modvat credit adjustment and deletion of penalty, subject to verification of any residual duty liability. en-us Tue, 21 Apr 1998 00:00:00 +0530 Wed, 21 Sep 2011 16:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88831 Duty on stems used in the manufacture of exempted low-wattage bulbs was not recoverable without first giving effect to admissible Modvat credit on duty-paid inputs used in those stems. The proper course was to verify the credit available and adjust it against the duty demand, with only any balance remaining payable. On the facts, penal action was not justified because the demand itself had to be recalculated after credit set-off and no warranting circumstances were shown. The result was relief to the extent of Modvat credit adjustment and deletion of penalty, subject to verification of any residual duty liability. Case-Laws Central Excise Tue, 21 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88831