https://www.taxtmi.com/caselaws?id=281319 An assessee may choose not to avail an exemption notification under Section 5A(1) of the Central Excise Act, 1944, and pay duty so that Modvat credit on input duty remains available; where the classification list was approved and RT-12 returns were accepted, credit could not be denied merely because exemption was available. The extended period of limitation was also not justified on these facts, since the department had accepted the relevant returns and classification without objection. Section 11AC could not be applied retrospectively to a 1992-93 dispute because it was introduced later. The demand and penalty were therefore unsustainable. en-us Mon, 10 May 1999 00:00:00 +0530 Thu, 13 Jun 2019 18:29:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281319 An assessee may choose not to avail an exemption notification under Section 5A(1) of the Central Excise Act, 1944, and pay duty so that Modvat credit on input duty remains available; where the classification list was approved and RT-12 returns were accepted, credit could not be denied merely because exemption was available. The extended period of limitation was also not justified on these facts, since the department had accepted the relevant returns and classification without objection. Section 11AC could not be applied retrospectively to a 1992-93 dispute because it was introduced later. The demand and penalty were therefore unsustainable. Case-Laws Central Excise Mon, 10 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281319