https://www.taxtmi.com/caselaws?id=106866 Where Modvat credit was debited before the statutory lapse date and the show cause proceedings were later dropped, the proper relief is restoration of the debit by book adjustment in RG 23C Part II, not cash refund or transfer to a fresh account. The article notes that the credit would have lapsed in any event, and absent proof that the debit forced payment through PLA or caused actual loss of usable credit, no monetary refund or equivalent fresh credit is warranted. The accounting entry alone is required to be made good. en-us Wed, 11 Sep 2002 00:00:00 +0530 Fri, 16 Mar 2012 11:04:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106866 Where Modvat credit was debited before the statutory lapse date and the show cause proceedings were later dropped, the proper relief is restoration of the debit by book adjustment in RG 23C Part II, not cash refund or transfer to a fresh account. The article notes that the credit would have lapsed in any event, and absent proof that the debit forced payment through PLA or caused actual loss of usable credit, no monetary refund or equivalent fresh credit is warranted. The accounting entry alone is required to be made good. Case-Laws Central Excise Wed, 11 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106866