https://www.taxtmi.com/caselaws?id=104536 Modvat credit was not admissible on iron moulds treated as capital goods, because Rule 57F(3) of the Central Excise Rules, 1944 applied only to inputs and not to such goods sent to a job worker. The credit was therefore wrongly availed and its reversal was justified. Penalty under Rule 173Q(1)(bb) was also sustainable once the wrongful availment was established, and the absence of an express limitation period in the rule meant the notice was not time-barred. en-us Mon, 09 Jul 2001 00:00:00 +0530 Wed, 29 Feb 2012 14:43:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104536 Modvat credit was not admissible on iron moulds treated as capital goods, because Rule 57F(3) of the Central Excise Rules, 1944 applied only to inputs and not to such goods sent to a job worker. The credit was therefore wrongly availed and its reversal was justified. Penalty under Rule 173Q(1)(bb) was also sustainable once the wrongful availment was established, and the absence of an express limitation period in the rule meant the notice was not time-barred. Case-Laws Central Excise Mon, 09 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104536