https://www.taxtmi.com/caselaws?id=50271 Exemption notifications must be applied strictly to their express conditions, and the amended notification was read as requiring compliance at the input-yarn stage rather than the final product. Because the assessee's dyeing, printing and bleaching activities meant the stated condition was not met, exemption for the relevant period was denied. Duty on the final product had to be re-quantified after allowing admissible Modvat credit on eligible inputs, subject to verification of duty payment on those inputs. Personal penalty was not sustained, as the dispute was treated as a bona fide interpretational issue. en-us Wed, 06 Dec 2000 00:00:00 +0530 Mon, 13 May 2019 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50271 Exemption notifications must be applied strictly to their express conditions, and the amended notification was read as requiring compliance at the input-yarn stage rather than the final product. Because the assessee's dyeing, printing and bleaching activities meant the stated condition was not met, exemption for the relevant period was denied. Duty on the final product had to be re-quantified after allowing admissible Modvat credit on eligible inputs, subject to verification of duty payment on those inputs. Personal penalty was not sustained, as the dispute was treated as a bona fide interpretational issue. Case-Laws Central Excise Wed, 06 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50271