https://www.taxtmi.com/caselaws?id=50368 An exemption notification must be applied strictly according to its express conditions, and the benefit cannot be extended retrospectively for an intervening period merely because the notification was later restored or modified. On that basis, exemption for 11-4-1997 to 5-6-1997 was denied and the duty demand was sustained. However, where duty is subsequently demanded on the final product, Modvat credit on duty-paid inputs should ordinarily be allowed subject to verification of input duty payment, and the procedural objection based on declaration formalities was not accepted as a bar. A bona fide interpretational dispute over the exemption also did not justify personal penalty, which was deleted. en-us Wed, 18 Oct 2000 00:00:00 +0530 Sat, 21 Aug 2010 13:00:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50368 An exemption notification must be applied strictly according to its express conditions, and the benefit cannot be extended retrospectively for an intervening period merely because the notification was later restored or modified. On that basis, exemption for 11-4-1997 to 5-6-1997 was denied and the duty demand was sustained. However, where duty is subsequently demanded on the final product, Modvat credit on duty-paid inputs should ordinarily be allowed subject to verification of input duty payment, and the procedural objection based on declaration formalities was not accepted as a bar. A bona fide interpretational dispute over the exemption also did not justify personal penalty, which was deleted. Case-Laws Central Excise Wed, 18 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50368