https://www.taxtmi.com/caselaws?id=108725 Modvat credit could not be denied where the exclusion clause under Rule 57Q was invoked against goods used in manufacturing intermediate products, because Notification No. 14/96-C.E. was treated as retrospective. The Tribunal stated that earlier decisions supporting retrospective relief continued to operate since they had not been stayed merely because a reference application was filed in the High Court. On that basis, the denial of Modvat credit and the related penalty were held unsustainable, and the assessee was entitled to the benefit of the notification. en-us Fri, 18 Oct 2002 00:00:00 +0530 Tue, 03 Apr 2012 15:50:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108725 Modvat credit could not be denied where the exclusion clause under Rule 57Q was invoked against goods used in manufacturing intermediate products, because Notification No. 14/96-C.E. was treated as retrospective. The Tribunal stated that earlier decisions supporting retrospective relief continued to operate since they had not been stayed merely because a reference application was filed in the High Court. On that basis, the denial of Modvat credit and the related penalty were held unsustainable, and the assessee was entitled to the benefit of the notification. Case-Laws Central Excise Fri, 18 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108725