https://www.taxtmi.com/caselaws?id=52290 Waste and scrap arising from capital goods purchased before Rule 57S could not be subjected to duty merely because they were cleared as scrap when Modvat credit had not been taken, but scrap of capital goods on which Modvat credit had been availed was dutyable under Rule 57S(2)(c). The longer limitation period was available only for the part of the demand involving suppression in clearances without intimation. Penalty under Section 11AC and interest under Section 11AB were held applicable only prospectively from 28 September 1996, not retrospectively. The matter was remanded for de novo verification of duty on the disputed scrap and reconsideration of penalty and interest. en-us Mon, 24 Mar 2003 00:00:00 +0530 Tue, 05 Oct 2010 10:10:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52290 Waste and scrap arising from capital goods purchased before Rule 57S could not be subjected to duty merely because they were cleared as scrap when Modvat credit had not been taken, but scrap of capital goods on which Modvat credit had been availed was dutyable under Rule 57S(2)(c). The longer limitation period was available only for the part of the demand involving suppression in clearances without intimation. Penalty under Section 11AC and interest under Section 11AB were held applicable only prospectively from 28 September 1996, not retrospectively. The matter was remanded for de novo verification of duty on the disputed scrap and reconsideration of penalty and interest. Case-Laws Central Excise Mon, 24 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52290