https://www.taxtmi.com/caselaws?id=118928 Penalty for alleged irregular availment of Modvat credit could not be sustained because Rule 57U(6) of the Central Excise Rules, 1944 was not in force during the relevant 1994-95 period. A penal provision cannot be applied to conduct that occurred before the provision became operative, so the legal foundation for the penalty failed. The penalty was therefore vacated in favour of the assessee. en-us Fri, 25 Nov 2005 00:00:00 +0530 Fri, 06 Jul 2012 17:24:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118928 Penalty for alleged irregular availment of Modvat credit could not be sustained because Rule 57U(6) of the Central Excise Rules, 1944 was not in force during the relevant 1994-95 period. A penal provision cannot be applied to conduct that occurred before the provision became operative, so the legal foundation for the penalty failed. The penalty was therefore vacated in favour of the assessee. Case-Laws Central Excise Fri, 25 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118928