https://www.taxtmi.com/caselaws?id=100892 An assessee cannot simultaneously claim full duty exemption and Modvat credit on inputs used during the exempted period. The record showed that the credit attributable to inputs received and consumed while operating under Notification No. 16/97 had already been reversed, so the objection of simultaneous availment did not survive for the later period. Modvat credit was therefore admissible when the assessee subsequently cleared goods under Notification No. 38/97. The challenge to the later credit failed, while reversal of the earlier credit remained confirmed and the related demand and penalties could not stand after that credit was expunged. en-us Fri, 12 Oct 2001 00:00:00 +0530 Tue, 07 Feb 2012 16:21:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100892 An assessee cannot simultaneously claim full duty exemption and Modvat credit on inputs used during the exempted period. The record showed that the credit attributable to inputs received and consumed while operating under Notification No. 16/97 had already been reversed, so the objection of simultaneous availment did not survive for the later period. Modvat credit was therefore admissible when the assessee subsequently cleared goods under Notification No. 38/97. The challenge to the later credit failed, while reversal of the earlier credit remained confirmed and the related demand and penalties could not stand after that credit was expunged. Case-Laws Central Excise Fri, 12 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100892