https://www.taxtmi.com/caselaws?id=115977 Deemed Modvat credit on scrap and ship-breaking material was admissible for the period governed by the 1-4-1994 circular, because that regime permitted credit at the prescribed rate without duty-paying documents. The objection based solely on absence of such documents could not stand, and the principal credit demand failed. Once the credit was accepted, the connected interest and demand founded on inadmissibility also fell away. The separate small duty amounts and certain penalties for other proved contraventions were left intact, while the Section 11AC penalty was unsustainable because that provision was not in force during the relevant period. Confiscation was maintained, but the redemption fine was reduced. en-us Fri, 18 Mar 2005 00:00:00 +0530 Wed, 06 Jun 2012 12:53:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115977 Deemed Modvat credit on scrap and ship-breaking material was admissible for the period governed by the 1-4-1994 circular, because that regime permitted credit at the prescribed rate without duty-paying documents. The objection based solely on absence of such documents could not stand, and the principal credit demand failed. Once the credit was accepted, the connected interest and demand founded on inadmissibility also fell away. The separate small duty amounts and certain penalties for other proved contraventions were left intact, while the Section 11AC penalty was unsustainable because that provision was not in force during the relevant period. Confiscation was maintained, but the redemption fine was reduced. Case-Laws Central Excise Fri, 18 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115977