https://www.taxtmi.com/caselaws?id=112706 Modvat credit on inputs could not be retained as unutilised RG 23A balance once the final product's dutiable classification had already been upheld for the relevant period and consequential relief had been granted. The Tribunal reasoned that the earlier classification ruling removed the basis for keeping the credit as a protective reserve, and the Modvat scheme did not permit preservation of credit merely against a possible future Supreme Court reversal. Any lawful relief could be sought if that contingency later arose. The assessee was therefore not entitled to retain the credit balance, and reversal of the credit was upheld. en-us Thu, 26 Sep 1996 00:00:00 +0530 Tue, 01 May 2012 14:19:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112706 Modvat credit on inputs could not be retained as unutilised RG 23A balance once the final product's dutiable classification had already been upheld for the relevant period and consequential relief had been granted. The Tribunal reasoned that the earlier classification ruling removed the basis for keeping the credit as a protective reserve, and the Modvat scheme did not permit preservation of credit merely against a possible future Supreme Court reversal. Any lawful relief could be sought if that contingency later arose. The assessee was therefore not entitled to retain the credit balance, and reversal of the credit was upheld. Case-Laws Central Excise Thu, 26 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112706