https://www.taxtmi.com/caselaws?id=202698 Modvat credit validly taken on duty-paid invoices within the prescribed period and properly recorded could be restored after a temporary reversal made to pursue alternative export-related schemes that later failed. The re-entry of the same credit was treated as a continuation of the original entitlement, not a fresh credit claim, so the six-month limit in Rule 57G(2) of the Central Excise Rules, 1944 did not apply to the restoration. On that basis, the demand, penalty and interest founded on alleged wrongful availment lacked basis, and the assessee's entitlement was upheld. en-us Tue, 03 Aug 2010 00:00:00 +0530 Mon, 11 Apr 2011 01:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202698 Modvat credit validly taken on duty-paid invoices within the prescribed period and properly recorded could be restored after a temporary reversal made to pursue alternative export-related schemes that later failed. The re-entry of the same credit was treated as a continuation of the original entitlement, not a fresh credit claim, so the six-month limit in Rule 57G(2) of the Central Excise Rules, 1944 did not apply to the restoration. On that basis, the demand, penalty and interest founded on alleged wrongful availment lacked basis, and the assessee's entitlement was upheld. Case-Laws Central Excise Tue, 03 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202698