https://www.taxtmi.com/caselaws?id=114392 The Tribunal disallowed Modvat credit of Rs. 34,83,846/- while affirming credit for the balance amount in a case concerning the denial of Modvat credit on capital goods. The Commissioner (Appeals) had allowed the credit without proper notice or justification, leading to an erroneous decision. The Tribunal emphasized the necessity for valid grounds under Rule 215 and rejected the application of estoppel in taxation matters. The judgment focused on the legal validity of the Modvat credit claim, highlighting the respondents' consistent admission that certain goods did not qualify as capital goods. en-us Fri, 20 Aug 2004 00:00:00 +0530 Tue, 15 May 2012 12:53:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114392 The Tribunal disallowed Modvat credit of Rs. 34,83,846/- while affirming credit for the balance amount in a case concerning the denial of Modvat credit on capital goods. The Commissioner (Appeals) had allowed the credit without proper notice or justification, leading to an erroneous decision. The Tribunal emphasized the necessity for valid grounds under Rule 215 and rejected the application of estoppel in taxation matters. The judgment focused on the legal validity of the Modvat credit claim, highlighting the respondents' consistent admission that certain goods did not qualify as capital goods. Case-Laws Central Excise Fri, 20 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114392