https://www.taxtmi.com/caselaws?id=113063 Exemption under Notification No. 8/2000-C.E. was denied because reversal or payment of Modvat credit relating to inputs and stock had to be completed before the exemption was availed; belated debit after the option date did not cure non-compliance. The duty demand was therefore sustained. Penalty was, however, held unwarranted because the dispute turned on interpretation of the exemption conditions rather than deliberate evasion, and it was set aside. en-us Tue, 10 Aug 2004 00:00:00 +0530 Thu, 03 May 2012 15:43:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113063 Exemption under Notification No. 8/2000-C.E. was denied because reversal or payment of Modvat credit relating to inputs and stock had to be completed before the exemption was availed; belated debit after the option date did not cure non-compliance. The duty demand was therefore sustained. Penalty was, however, held unwarranted because the dispute turned on interpretation of the exemption conditions rather than deliberate evasion, and it was set aside. Case-Laws Central Excise Tue, 10 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113063