https://www.taxtmi.com/caselaws?id=122519 Transitional deemed Cenvat credit under the textile notification was confined to inputs lying in stock, inputs in process, or inputs contained in finished goods only where those finished goods fell within the specified covered categories. Because the finished apparel goods were not among the notified goods, credit could not be extended by analogy, and excess credit was recoverable. The larger-bench precedent cited by the assessee was distinguished as arising under a different notification and statutory setting. Penal consequences were not warranted on this interpretative dispute, so no penalty was leviable. en-us Wed, 17 Jan 2007 00:00:00 +0530 Tue, 14 Aug 2012 13:00:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122519 Transitional deemed Cenvat credit under the textile notification was confined to inputs lying in stock, inputs in process, or inputs contained in finished goods only where those finished goods fell within the specified covered categories. Because the finished apparel goods were not among the notified goods, credit could not be extended by analogy, and excess credit was recoverable. The larger-bench precedent cited by the assessee was distinguished as arising under a different notification and statutory setting. Penal consequences were not warranted on this interpretative dispute, so no penalty was leviable. Case-Laws Central Excise Wed, 17 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122519