https://www.taxtmi.com/caselaws?id=111117 Where Modvat credit on duty-paid capital goods is accepted, and the only dispute concerns the timing of availment, the balance 50% credit may be claimed in the subsequent eligible financial year. The denial of that deferred credit is unsustainable once entitlement to credit itself has been recognised, and any consequential penalty cannot survive. A separate disallowance that was not challenged remains unaffected. en-us Mon, 22 Dec 2003 00:00:00 +0530 Fri, 20 Apr 2012 13:35:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111117 Where Modvat credit on duty-paid capital goods is accepted, and the only dispute concerns the timing of availment, the balance 50% credit may be claimed in the subsequent eligible financial year. The denial of that deferred credit is unsustainable once entitlement to credit itself has been recognised, and any consequential penalty cannot survive. A separate disallowance that was not challenged remains unaffected. Case-Laws Central Excise Mon, 22 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111117