https://www.taxtmi.com/caselaws?id=209494 Modvat credit remains available for duty-paid inputs even where exemption under a notification is denied, requiring re-quantification of duty after allowing eligible credit. For valuation, a sale price inclusive of excise duty must be treated as cum-duty, with the duty element excluded to determine assessable value. Penalty under Rule 173Q(1)(a) is not justified where an exemption dispute concerns interpretation and there is no finding of suppression or misdeclaration. The Revenue's challenge failed because no substantial question of law arose. en-us Thu, 16 Dec 2010 00:00:00 +0530 Thu, 18 Jul 2013 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209494 Modvat credit remains available for duty-paid inputs even where exemption under a notification is denied, requiring re-quantification of duty after allowing eligible credit. For valuation, a sale price inclusive of excise duty must be treated as cum-duty, with the duty element excluded to determine assessable value. Penalty under Rule 173Q(1)(a) is not justified where an exemption dispute concerns interpretation and there is no finding of suppression or misdeclaration. The Revenue's challenge failed because no substantial question of law arose. Case-Laws Central Excise Thu, 16 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209494