https://www.taxtmi.com/caselaws?id=50061 Modvat credit on furnace oil taken under Rule 57B was held subject to the restriction notified under Rule 57A(3) on a harmonious reading of the scheme, so the credit was admissible only to the extent of 10%. The absence of a separate Rule 57B notification did not prevent application of the existing restriction. Where the dispute arose from legal interpretation and the penalty matched the duty demand, the penalty was considered harsh and was reduced to more moderate amounts in the two appeals. en-us Fri, 08 Dec 2000 00:00:00 +0530 Thu, 19 Aug 2010 15:23:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50061 Modvat credit on furnace oil taken under Rule 57B was held subject to the restriction notified under Rule 57A(3) on a harmonious reading of the scheme, so the credit was admissible only to the extent of 10%. The absence of a separate Rule 57B notification did not prevent application of the existing restriction. Where the dispute arose from legal interpretation and the penalty matched the duty demand, the penalty was considered harsh and was reduced to more moderate amounts in the two appeals. Case-Laws Central Excise Fri, 08 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50061