https://www.taxtmi.com/caselaws?id=109761 Modvat credit under amended notification could be claimed for the remaining 5% where the assessee had initially taken only 10% under a mistaken belief that credit was restricted to that extent. The balance credit was treated as effectively availed within the prescribed period, so Rule 57G(5) did not operate as a time-bar to deny it. On that basis, the assessee was entitled to the remaining credit under Notification No. 60/97-C.E. (N.T.), and the denial of credit and penalty were unsustainable. en-us Mon, 18 Nov 2002 00:00:00 +0530 Wed, 11 Apr 2012 17:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109761 Modvat credit under amended notification could be claimed for the remaining 5% where the assessee had initially taken only 10% under a mistaken belief that credit was restricted to that extent. The balance credit was treated as effectively availed within the prescribed period, so Rule 57G(5) did not operate as a time-bar to deny it. On that basis, the assessee was entitled to the remaining credit under Notification No. 60/97-C.E. (N.T.), and the denial of credit and penalty were unsustainable. Case-Laws Central Excise Mon, 18 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109761