https://www.taxtmi.com/caselaws?id=50846 The Tribunal ruled that ship-breakers were not eligible to take Modvat credit for the duty paid on fuel, oil, and other stores in ships imported for breaking, except for fuel and oil in the ship's engine and machinery. The Tribunal upheld the denial of credit but overturned penalties imposed on ship-breakers, citing ambiguity in circulars and lack of evidence of intentional non-compliance. The decision allowed the appeals in part, restoring the Assistant Commissioner's orders on credit while affirming the Commissioner (Appeals)'s decision on penalties. en-us Fri, 12 Oct 2001 00:00:00 +0530 Fri, 17 Sep 2010 16:39:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50846 The Tribunal ruled that ship-breakers were not eligible to take Modvat credit for the duty paid on fuel, oil, and other stores in ships imported for breaking, except for fuel and oil in the ship's engine and machinery. The Tribunal upheld the denial of credit but overturned penalties imposed on ship-breakers, citing ambiguity in circulars and lack of evidence of intentional non-compliance. The decision allowed the appeals in part, restoring the Assistant Commissioner's orders on credit while affirming the Commissioner (Appeals)'s decision on penalties. Case-Laws Central Excise Fri, 12 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50846