https://www.taxtmi.com/caselaws?id=120773 Modvat credit could not be denied where duty-paid ingots were received before the cut-off date, remained in stock on 1 April 2000, and the notification's conditions were satisfied. Although the notification permitted credit at 12% of value subject to stipulated requirements, the assessee claimed only the duty shown on the invoices, which was less than the credit otherwise admissible. Since the amount taken did not exceed the legally available credit, disallowance was unsustainable. An earlier Tribunal view on the same issue supported this result. en-us Mon, 15 Jan 2007 00:00:00 +0530 Tue, 24 Jul 2012 12:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120773 Modvat credit could not be denied where duty-paid ingots were received before the cut-off date, remained in stock on 1 April 2000, and the notification's conditions were satisfied. Although the notification permitted credit at 12% of value subject to stipulated requirements, the assessee claimed only the duty shown on the invoices, which was less than the credit otherwise admissible. Since the amount taken did not exceed the legally available credit, disallowance was unsustainable. An earlier Tribunal view on the same issue supported this result. Case-Laws Central Excise Mon, 15 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120773