https://www.taxtmi.com/caselaws?id=175297 An exemption notification must be construed strictly according to its plain terms, and where a condition bars MODVAT credit on the specified goods or on any other products manufactured in the same factory, availment of such credit disentitles the claimant from the exemption. Where exemption is denied, duty may nevertheless be recomputed after allowing otherwise admissible MODVAT credit on the relevant inputs and by treating the sale price as cum-duty price, subject to record-based verification. Penalty was held unjustified in the absence of suppression or misdeclaration. en-us Wed, 09 Aug 2006 00:00:00 +0530 Tue, 17 Nov 2015 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175297 An exemption notification must be construed strictly according to its plain terms, and where a condition bars MODVAT credit on the specified goods or on any other products manufactured in the same factory, availment of such credit disentitles the claimant from the exemption. Where exemption is denied, duty may nevertheless be recomputed after allowing otherwise admissible MODVAT credit on the relevant inputs and by treating the sale price as cum-duty price, subject to record-based verification. Penalty was held unjustified in the absence of suppression or misdeclaration. Case-Laws Central Excise Wed, 09 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175297