https://www.taxtmi.com/caselaws?id=123440 Transitional Modvat credit under Rule 57H of the Central Excise Rules, 1944 was held applicable where duty-paid inputs remained in stock and were used after withdrawal of the Pro forma Credit Scheme and replacement by Modvat. The rule was read as governing the shift between schemes, and the authority was required to exercise discretion judicially once the statutory conditions for transitional benefit were met. A prior Tribunal view was followed, and credit was not denied on a narrow reading of the transition provision. The assessee was therefore entitled to Modvat credit on inputs lying and used during the transition period. en-us Fri, 22 Feb 2008 00:00:00 +0530 Fri, 14 Sep 2012 10:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123440 Transitional Modvat credit under Rule 57H of the Central Excise Rules, 1944 was held applicable where duty-paid inputs remained in stock and were used after withdrawal of the Pro forma Credit Scheme and replacement by Modvat. The rule was read as governing the shift between schemes, and the authority was required to exercise discretion judicially once the statutory conditions for transitional benefit were met. A prior Tribunal view was followed, and credit was not denied on a narrow reading of the transition provision. The assessee was therefore entitled to Modvat credit on inputs lying and used during the transition period. Case-Laws Central Excise Fri, 22 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123440