https://www.taxtmi.com/caselaws?id=50347 Modvat credit on capital goods was permissible before actual installation for the period before the 1-1-1996 amendment. The relevant Modvat Rules in March 1994 to September 1994 contained no express condition requiring installation before credit availment, and the definition of capital goods could not be read to imply such a restriction. On that basis, credit taken and utilised before installation was treated as valid for the relevant period, and the duty demand and penalty could not survive. en-us Wed, 13 Dec 2000 00:00:00 +0530 Sat, 21 Aug 2010 12:20:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50347 Modvat credit on capital goods was permissible before actual installation for the period before the 1-1-1996 amendment. The relevant Modvat Rules in March 1994 to September 1994 contained no express condition requiring installation before credit availment, and the definition of capital goods could not be read to imply such a restriction. On that basis, credit taken and utilised before installation was treated as valid for the relevant period, and the duty demand and penalty could not survive. Case-Laws Central Excise Wed, 13 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50347