https://www.taxtmi.com/caselaws?id=31690 Conditional exemption under Notification No. 4/97-C.E. and Notification No. 5/99-C.E. was unavailable where Modvat credit had been availed on furnace oil used for generating steam, because the exemption was expressly linked to non-availment of credit under Rule 57A; the text states that even a small credit claim defeated the condition and disentitled the assessee from exemption. The notes also state that the extended limitation period was validly invoked because the exemption declaration said no credit would be taken, yet credit was taken on fuel used for both dutiable and exempted goods, amounting to misdeclaration in the classification list. On that basis, the demand was treated as not time-barred and duty, interest and penalty were sustained. en-us Mon, 21 Jul 2008 00:00:00 +0530 Tue, 02 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31690 Conditional exemption under Notification No. 4/97-C.E. and Notification No. 5/99-C.E. was unavailable where Modvat credit had been availed on furnace oil used for generating steam, because the exemption was expressly linked to non-availment of credit under Rule 57A; the text states that even a small credit claim defeated the condition and disentitled the assessee from exemption. The notes also state that the extended limitation period was validly invoked because the exemption declaration said no credit would be taken, yet credit was taken on fuel used for both dutiable and exempted goods, amounting to misdeclaration in the classification list. On that basis, the demand was treated as not time-barred and duty, interest and penalty were sustained. Case-Laws Central Excise Mon, 21 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31690