https://www.taxtmi.com/caselaws?id=330467 Modvat credit lying in the assessee's capital goods account on 31.07.1997 was held liable to lapse under Notifications No. 33/1997-CE (N.T.) and 34/1997-CE (N.T.) issued from 01.08.1997. The Tribunal noted that the amended scheme under Section 3A of the Central Excise Act, 1944 and the connected notifications expressly provided for lapse of unutilized credit, and that Eicher Motors arose in a different factual and legal context involving credit on inputs already used in manufacture before the amendment. The earlier ruling did not control the operation of the new notifications, and res judicata could not be used to extend it to these facts. en-us Tue, 28 Jun 2016 00:00:00 +0530 Tue, 26 Jul 2016 12:18:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330467 Modvat credit lying in the assessee's capital goods account on 31.07.1997 was held liable to lapse under Notifications No. 33/1997-CE (N.T.) and 34/1997-CE (N.T.) issued from 01.08.1997. The Tribunal noted that the amended scheme under Section 3A of the Central Excise Act, 1944 and the connected notifications expressly provided for lapse of unutilized credit, and that Eicher Motors arose in a different factual and legal context involving credit on inputs already used in manufacture before the amendment. The earlier ruling did not control the operation of the new notifications, and res judicata could not be used to extend it to these facts. Case-Laws Central Excise Tue, 28 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330467