https://www.taxtmi.com/caselaws?id=109477 Para 2 of Notification No. 16/97-C.E. barred availment of Modvat credit on inputs while the assessee was enjoying the Small Scale Industry exemption, and the prohibition operated at the stage of taking credit itself. Mere non-utilisation of the credited amount did not cure the ineligibility, because the restriction attached to availment, not only to use. The Modvat credit was therefore inadmissible during the exemption period, and the disallowance and penalty were upheld. en-us Fri, 28 Mar 2003 00:00:00 +0530 Tue, 10 Apr 2012 13:36:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109477 Para 2 of Notification No. 16/97-C.E. barred availment of Modvat credit on inputs while the assessee was enjoying the Small Scale Industry exemption, and the prohibition operated at the stage of taking credit itself. Mere non-utilisation of the credited amount did not cure the ineligibility, because the restriction attached to availment, not only to use. The Modvat credit was therefore inadmissible during the exemption period, and the disallowance and penalty were upheld. Case-Laws Central Excise Fri, 28 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109477