https://www.taxtmi.com/caselaws?id=250455 Furnace oil credit under the MODVAT scheme was treated as allowable only to the extent the amended Rule 57B brought fuel within the credit-allowing provision. The retrospective validation in Section 87 of the Finance Act, 1997 controlled entitlement for the covered period, and the 10% ad valorem restriction did not apply to credit availed under the substituted Rule 57B. Reliance on Rule 57D was considered misplaced, and the impugned order sustaining the credit position only for the later period was maintained. en-us Thu, 06 Mar 2014 00:00:00 +0530 Wed, 26 Nov 2014 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250455 Furnace oil credit under the MODVAT scheme was treated as allowable only to the extent the amended Rule 57B brought fuel within the credit-allowing provision. The retrospective validation in Section 87 of the Finance Act, 1997 controlled entitlement for the covered period, and the 10% ad valorem restriction did not apply to credit availed under the substituted Rule 57B. Reliance on Rule 57D was considered misplaced, and the impugned order sustaining the credit position only for the later period was maintained. Case-Laws Central Excise Thu, 06 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250455