https://www.taxtmi.com/caselaws?id=338871 Unutilised Modvat credit lying in the capital goods account on 31-7-1997 lapsed after Notifications 33/1997 and 34/1997-C.E. (N.T.) amended Rule 57S from 1-8-1997. The Tribunal distinguished Eicher Motors, noting that it concerned inputs already used in manufacture and did not address the compounded levy scheme under Section 3A or the validity of the amended notifications. It also held that res judicata could not extend the earlier reasoning to materially different facts and a different legal setting. The order permitting retention of the credit was therefore set aside. en-us Tue, 28 Jun 2016 00:00:00 +0530 Tue, 14 Feb 2017 08:47:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338871 Unutilised Modvat credit lying in the capital goods account on 31-7-1997 lapsed after Notifications 33/1997 and 34/1997-C.E. (N.T.) amended Rule 57S from 1-8-1997. The Tribunal distinguished Eicher Motors, noting that it concerned inputs already used in manufacture and did not address the compounded levy scheme under Section 3A or the validity of the amended notifications. It also held that res judicata could not extend the earlier reasoning to materially different facts and a different legal setting. The order permitting retention of the credit was therefore set aside. Case-Laws Central Excise Tue, 28 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338871