https://www.taxtmi.com/caselaws?id=94626 Modvat credit on inputs received from a 100% export-oriented unit was examined alongside conflicting Tribunal views on whether credit was limited to the additional duty component under the relevant excise and Modvat notifications. The conflict was treated as one requiring resolution by a Larger Bench, leaving the credit question open. On penalty, Rule 209A was noted to require knowledge or reason to believe that goods were liable to confiscation; where the underlying credit issue was genuinely disputed and bona fide, the requisite culpability was not established, and penalty on individual officers and connected persons could not be sustained. en-us Thu, 22 Jul 1999 00:00:00 +0530 Sat, 08 Jun 2019 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94626 Modvat credit on inputs received from a 100% export-oriented unit was examined alongside conflicting Tribunal views on whether credit was limited to the additional duty component under the relevant excise and Modvat notifications. The conflict was treated as one requiring resolution by a Larger Bench, leaving the credit question open. On penalty, Rule 209A was noted to require knowledge or reason to believe that goods were liable to confiscation; where the underlying credit issue was genuinely disputed and bona fide, the requisite culpability was not established, and penalty on individual officers and connected persons could not be sustained. Case-Laws Central Excise Thu, 22 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94626