https://www.taxtmi.com/caselaws?id=255983 Retrospective amendment can remove a prior statutory bar to Modvat credit on capital goods where the goods were booked as revenue expenditure. Under the erstwhile Central Excise Rules, 1944, that booking initially disqualified credit for the relevant period, but the Finance Act, 2003 retrospectively altered the position and removed the basis for denial. The commentary states that once the statutory disqualification was cured with retrospective effect, a denial founded solely on that bar could not stand, and relief to the assessee followed. en-us Fri, 02 May 2014 00:00:00 +0530 Sat, 31 Jan 2015 13:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255983 Retrospective amendment can remove a prior statutory bar to Modvat credit on capital goods where the goods were booked as revenue expenditure. Under the erstwhile Central Excise Rules, 1944, that booking initially disqualified credit for the relevant period, but the Finance Act, 2003 retrospectively altered the position and removed the basis for denial. The commentary states that once the statutory disqualification was cured with retrospective effect, a denial founded solely on that bar could not stand, and relief to the assessee followed. Case-Laws Central Excise Fri, 02 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255983