https://www.taxtmi.com/caselaws?id=128262 Cenvat credit was held inadmissible where the additional customs duty on imported goods was discharged through DEPB credit, because the later notification removing the embargo did not operate retrospectively in the absence of clear legislative intent. The disallowance of credit was therefore confirmed. On penalties, the later relief to similarly placed assessees was treated as a mitigating factor, so the equal penalty was waived. However, the separate penalty for violation of the Cenvat Credit Rules was sustained because undue credit had been taken for a substantial period. en-us Tue, 18 Aug 2009 00:00:00 +0530 Sat, 30 Mar 2013 15:29:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128262 Cenvat credit was held inadmissible where the additional customs duty on imported goods was discharged through DEPB credit, because the later notification removing the embargo did not operate retrospectively in the absence of clear legislative intent. The disallowance of credit was therefore confirmed. On penalties, the later relief to similarly placed assessees was treated as a mitigating factor, so the equal penalty was waived. However, the separate penalty for violation of the Cenvat Credit Rules was sustained because undue credit had been taken for a substantial period. Case-Laws Central Excise Tue, 18 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128262