https://www.taxtmi.com/caselaws?id=91195 Customs duty demand under Notification No. 203/92 could not be sustained where the importer had reversed wrongly availed Modvat credit with interest within the cut-off recognised by the Board's later clarification. The notification required that no input-stage credit be taken, but the Board's ex post facto relaxation treated timely reversal with interest as compliance with that condition. Because the assessee had reversed the credit and informed the department within the stipulated period, the basis for duty recovery, confiscation and penalty ceased to survive. The consequence was that the confirmed demand and all consequential enforcement action fell away. en-us Thu, 04 Jun 1998 00:00:00 +0530 Fri, 14 Oct 2011 13:41:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=91195 Customs duty demand under Notification No. 203/92 could not be sustained where the importer had reversed wrongly availed Modvat credit with interest within the cut-off recognised by the Board's later clarification. The notification required that no input-stage credit be taken, but the Board's ex post facto relaxation treated timely reversal with interest as compliance with that condition. Because the assessee had reversed the credit and informed the department within the stipulated period, the basis for duty recovery, confiscation and penalty ceased to survive. The consequence was that the confirmed demand and all consequential enforcement action fell away. Case-Laws Customs Thu, 04 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=91195