https://www.taxtmi.com/caselaws?id=92655 Modvat credit on capital goods used to manufacture goods under Heading 5202 was not available for the period before 21-10-1994, because Notification No. 60/94-C.E. (N.T.) amended Rule 57Q only from that date and did not operate retrospectively. The appellate order allowing credit for the earlier period was therefore unsustainable, and the original denial of credit was restored. On penalty, the surrounding uncertainty on eligibility and excisability justified a lenient view, so the penalty for wrongly taking credit was reduced substantially. en-us Wed, 23 Sep 1998 00:00:00 +0530 Fri, 04 Nov 2011 12:01:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=92655 Modvat credit on capital goods used to manufacture goods under Heading 5202 was not available for the period before 21-10-1994, because Notification No. 60/94-C.E. (N.T.) amended Rule 57Q only from that date and did not operate retrospectively. The appellate order allowing credit for the earlier period was therefore unsustainable, and the original denial of credit was restored. On penalty, the surrounding uncertainty on eligibility and excisability justified a lenient view, so the penalty for wrongly taking credit was reduced substantially. Case-Laws Central Excise Wed, 23 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=92655