https://www.taxtmi.com/caselaws?id=756881 Modvat credit availed in August 1997 remained admissible because the notification causing the credit to lapse operated only prospectively from 01.09.1997, so the earlier availment could not be treated as irregular. Under the compounded levy scheme, the assessee's returns and declaration supported entitlement to abatements for closure periods under Rule 96ZP(2), and the duty demand based on annual capacity fixation could not stand once the capacity-fixation order had been set aside. The commentary states that, on these principles, the duty demand and penalty were unsustainable and consequential relief followed. en-us Fri, 09 Aug 2024 00:00:00 +0530 Sat, 10 Aug 2024 20:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756881 Modvat credit availed in August 1997 remained admissible because the notification causing the credit to lapse operated only prospectively from 01.09.1997, so the earlier availment could not be treated as irregular. Under the compounded levy scheme, the assessee's returns and declaration supported entitlement to abatements for closure periods under Rule 96ZP(2), and the duty demand based on annual capacity fixation could not stand once the capacity-fixation order had been set aside. The commentary states that, on these principles, the duty demand and penalty were unsustainable and consequential relief followed. Case-Laws Central Excise Fri, 09 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756881