https://www.taxtmi.com/caselaws?id=48119 The Tribunal's dismissal of the appeal was justified as the appellant was not entitled to avail Modvat credit for capital goods received before March 31, 2000, but installed after April 1, 2000. The court clarified that 50% credit could be availed on receipt under Rule 57AC. The appellant's entitlement to credit over two financial years was upheld, and the penalty of Rs. 1.00 lakh was set aside due to the reasonable belief in entitlement. en-us Tue, 29 Aug 2006 00:00:00 +0530 Thu, 24 Sep 2015 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48119 The Tribunal's dismissal of the appeal was justified as the appellant was not entitled to avail Modvat credit for capital goods received before March 31, 2000, but installed after April 1, 2000. The court clarified that 50% credit could be availed on receipt under Rule 57AC. The appellant's entitlement to credit over two financial years was upheld, and the penalty of Rs. 1.00 lakh was set aside due to the reasonable belief in entitlement. Case-Laws Central Excise Tue, 29 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48119