https://www.taxtmi.com/caselaws?id=258505 An exemption under Notification No. 3/2001-C.E. was conditional on no credit of duty having been taken on specified inputs used in the manufacture of the exempted vehicles. Because the assessee admittedly availed Modvat credit on inputs such as glass and paints and did not reverse it at the relevant time, the condition was not satisfied and the exemption was denied. The duty demand was therefore upheld. On penalty, however, the court declined to sustain the Section 11AC penalty and deleted the direction to pay penalty, leaving the assessee relieved on that issue. en-us Thu, 12 Mar 2015 00:00:00 +0530 Thu, 31 Dec 2015 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258505 An exemption under Notification No. 3/2001-C.E. was conditional on no credit of duty having been taken on specified inputs used in the manufacture of the exempted vehicles. Because the assessee admittedly availed Modvat credit on inputs such as glass and paints and did not reverse it at the relevant time, the condition was not satisfied and the exemption was denied. The duty demand was therefore upheld. On penalty, however, the court declined to sustain the Section 11AC penalty and deleted the direction to pay penalty, leaving the assessee relieved on that issue. Case-Laws Central Excise Thu, 12 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258505