https://www.taxtmi.com/caselaws?id=109797 Notional stock segregation for Modvat adjustment was rejected where inputs had already been reflected in the credit account and the facts did not justify a first-come-first-out allocation. The Tribunal held that pre-1-4-2000 consumption could not be artificially attributed to the non-creditable consignment merely to leave the credited consignment available for lapse on opting out of the scheme. As the disputed consumption had already been accounted for through availed credit, the Revenue could not insist on a deemed adjustment against the non-creditable inputs. The impugned order was set aside and the assessee was granted consequential relief. en-us Fri, 31 Jan 2003 00:00:00 +0530 Wed, 11 Apr 2012 18:37:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109797 Notional stock segregation for Modvat adjustment was rejected where inputs had already been reflected in the credit account and the facts did not justify a first-come-first-out allocation. The Tribunal held that pre-1-4-2000 consumption could not be artificially attributed to the non-creditable consignment merely to leave the credited consignment available for lapse on opting out of the scheme. As the disputed consumption had already been accounted for through availed credit, the Revenue could not insist on a deemed adjustment against the non-creditable inputs. The impugned order was set aside and the assessee was granted consequential relief. Case-Laws Central Excise Fri, 31 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109797