https://www.taxtmi.com/caselaws?id=47273 Cenvat credit validly taken on Light Diesel Oil received in the factory before 01.03.2003 could not be withdrawn by a later amendment excluding that item from the definition of input. Rule 3 of the Cenvat Credit Rules, 2002 allowed credit on eligible inputs, and Rule 4(1) permitted credit to be taken immediately on receipt in the factory; once credit was lawfully earned under the then-existing definition, it crystallised as a vested right. The subsequent amendment by Notification No. 13/2003-C.E. (N.T.) was not retrospective, and a circular could not require reversal of credit on pre-amendment stock. The challenge to the notice and circular therefore succeeded, and the assessee could retain the credit. en-us Wed, 03 Nov 2004 00:00:00 +0530 Tue, 27 Jul 2010 18:42:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47273 Cenvat credit validly taken on Light Diesel Oil received in the factory before 01.03.2003 could not be withdrawn by a later amendment excluding that item from the definition of input. Rule 3 of the Cenvat Credit Rules, 2002 allowed credit on eligible inputs, and Rule 4(1) permitted credit to be taken immediately on receipt in the factory; once credit was lawfully earned under the then-existing definition, it crystallised as a vested right. The subsequent amendment by Notification No. 13/2003-C.E. (N.T.) was not retrospective, and a circular could not require reversal of credit on pre-amendment stock. The challenge to the notice and circular therefore succeeded, and the assessee could retain the credit. Case-Laws Central Excise Wed, 03 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47273