https://www.taxtmi.com/caselaws?id=221988 Accrued Cenvat credit under an existing notification could not be taken away by later rescission in the absence of transitional provisions. The Gujarat HC applied binding precedent that rights validly acquired under a prevailing credit scheme continue unless the later withdrawal expressly or by necessary implication extinguishes them. On that basis, the assessee was entitled to retain and transfer the deemed credit in its Cenvat Credit account, and the Revenue's challenge failed. en-us Tue, 14 Aug 2012 00:00:00 +0530 Tue, 09 Apr 2013 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221988 Accrued Cenvat credit under an existing notification could not be taken away by later rescission in the absence of transitional provisions. The Gujarat HC applied binding precedent that rights validly acquired under a prevailing credit scheme continue unless the later withdrawal expressly or by necessary implication extinguishes them. On that basis, the assessee was entitled to retain and transfer the deemed credit in its Cenvat Credit account, and the Revenue's challenge failed. Case-Laws Central Excise Tue, 14 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221988