https://www.taxtmi.com/caselaws?id=48176 The High Court allowed the respondent-assessee to avail Modvat credit on furnace oil beyond the 10% limit set by Notification No. 5/94-C.E. (N.T.), based on the Supreme Court's clarification that such restrictions did not apply to inputs listed in Rule 57B. The distinct treatment of goods under Rule 57B compared to Rule 57A, as highlighted by the Supreme Court, rendered the 10% ad valorem limit inapplicable. The court's analysis aligned with the interpretation that the restrictions did not extend to inputs covered by Rule 57B, influencing the High Court's decision to dismiss the appeal. en-us Tue, 17 Jul 2007 00:00:00 +0530 Wed, 31 Dec 2014 19:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48176 The High Court allowed the respondent-assessee to avail Modvat credit on furnace oil beyond the 10% limit set by Notification No. 5/94-C.E. (N.T.), based on the Supreme Court's clarification that such restrictions did not apply to inputs listed in Rule 57B. The distinct treatment of goods under Rule 57B compared to Rule 57A, as highlighted by the Supreme Court, rendered the 10% ad valorem limit inapplicable. The court's analysis aligned with the interpretation that the restrictions did not extend to inputs covered by Rule 57B, influencing the High Court's decision to dismiss the appeal. Case-Laws Central Excise Tue, 17 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48176