https://www.taxtmi.com/caselaws?id=152259 Deemed Modvat credit under Notification No. 29/96-C.E. was restricted where credit had been taken on a specified input treated as a consumable, including light diesel oil used as fuel. The controlling principle stated is that full reversal of the disputed credit places the assessee in the same position as if no credit had been taken. On that basis, reversal cured the notification-based objection, removed the bar to deemed credit, and made denial of the benefit unsustainable. The result stated in the text is that the duty demand could not be sustained and the assessee remained entitled to the notification benefit. en-us Wed, 01 Jul 2009 00:00:00 +0530 Fri, 28 Jun 2013 11:14:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152259 Deemed Modvat credit under Notification No. 29/96-C.E. was restricted where credit had been taken on a specified input treated as a consumable, including light diesel oil used as fuel. The controlling principle stated is that full reversal of the disputed credit places the assessee in the same position as if no credit had been taken. On that basis, reversal cured the notification-based objection, removed the bar to deemed credit, and made denial of the benefit unsustainable. The result stated in the text is that the duty demand could not be sustained and the assessee remained entitled to the notification benefit. Case-Laws Central Excise Wed, 01 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152259