https://www.taxtmi.com/caselaws?id=326170 Accumulated Modvat/CENVAT credit could not be denied merely because the assessee opted out of the scheme, where the credit remained unutilised due to departmental restraint and unresolved procedural inaction. Rule 57H(7) of the Central Excise Rules, 1944 could not be used to treat the balance credit as lapsed when it came into force after the assessee had opted out. The tribunal's view that the assessee could carry the credit into the CENVAT account and use it for duty payment was upheld on those facts. en-us Thu, 25 Feb 2016 00:00:00 +0530 Fri, 04 Nov 2016 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326170 Accumulated Modvat/CENVAT credit could not be denied merely because the assessee opted out of the scheme, where the credit remained unutilised due to departmental restraint and unresolved procedural inaction. Rule 57H(7) of the Central Excise Rules, 1944 could not be used to treat the balance credit as lapsed when it came into force after the assessee had opted out. The tribunal's view that the assessee could carry the credit into the CENVAT account and use it for duty payment was upheld on those facts. Case-Laws Central Excise Thu, 25 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326170