https://www.taxtmi.com/caselaws?id=203708 The applicable CENVAT credit rule for the relevant financial year restricted credit on capital goods to 50% in that year, with the balance available later under the rule. A subsequent proviso allowing 100% credit applied only from 01.03.2002 and could not operate retrospectively. Section 38A of the Central Excise Act preserved the earlier rule and the rights and liabilities arising under it, so Sections 21 and 24 of the General Clauses Act could not be used to expand the credit entitlement. The assessee was therefore not entitled to claim full credit for the earlier year, and the issue was decided in favour of the Revenue. en-us Fri, 02 Jul 2010 00:00:00 +0530 Tue, 14 Jun 2011 05:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203708 The applicable CENVAT credit rule for the relevant financial year restricted credit on capital goods to 50% in that year, with the balance available later under the rule. A subsequent proviso allowing 100% credit applied only from 01.03.2002 and could not operate retrospectively. Section 38A of the Central Excise Act preserved the earlier rule and the rights and liabilities arising under it, so Sections 21 and 24 of the General Clauses Act could not be used to expand the credit entitlement. The assessee was therefore not entitled to claim full credit for the earlier year, and the issue was decided in favour of the Revenue. Case-Laws Central Excise Fri, 02 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203708