https://www.taxtmi.com/caselaws?id=344834 Section 87 of the Finance Act, 1997 retrospectively restricted MODVAT credit from 23.07.1996 and validated recovery of credit that had been wrongly availed under the earlier regime. The Court held that the recovery mechanism in Section 87 operated independently of Section 11A of the Central Excise Act, 1944, so the absence of allegations of fraud, suppression, or wilful misstatement in the notice did not bar recovery. The authorities distinguishing J.K. Spinning and Weaving Mills Ltd. and Jindal Poly Films Ltd. were held inapplicable on the facts. The demand for reversal of credit with interest was therefore upheld. en-us Tue, 13 Jun 2017 00:00:00 +0530 Tue, 06 Feb 2018 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344834 Section 87 of the Finance Act, 1997 retrospectively restricted MODVAT credit from 23.07.1996 and validated recovery of credit that had been wrongly availed under the earlier regime. The Court held that the recovery mechanism in Section 87 operated independently of Section 11A of the Central Excise Act, 1944, so the absence of allegations of fraud, suppression, or wilful misstatement in the notice did not bar recovery. The authorities distinguishing J.K. Spinning and Weaving Mills Ltd. and Jindal Poly Films Ltd. were held inapplicable on the facts. The demand for reversal of credit with interest was therefore upheld. Case-Laws Central Excise Tue, 13 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344834