https://www.taxtmi.com/caselaws?id=52352 Transitional Modvat credit under Rule 57H was held admissible where the assessee had earlier taken benefit under Notification No. 355/86-C.E. for cut-tobacco stocks, because that concession was treated as a duty-remission mechanism and not prior input credit in the Modvat sense. The earlier notification therefore did not trigger the bar against transitional credit, and duty-paid cut-tobacco remaining in stock could not be treated as already exhausted. The CESTAT also noted that a suppression finding recorded in remand could not be reopened in de novo proceedings, and once the credit demand failed, the related interest and penalty proposals could not survive. en-us Fri, 10 Oct 2003 00:00:00 +0530 Tue, 05 Oct 2010 13:17:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52352 Transitional Modvat credit under Rule 57H was held admissible where the assessee had earlier taken benefit under Notification No. 355/86-C.E. for cut-tobacco stocks, because that concession was treated as a duty-remission mechanism and not prior input credit in the Modvat sense. The earlier notification therefore did not trigger the bar against transitional credit, and duty-paid cut-tobacco remaining in stock could not be treated as already exhausted. The CESTAT also noted that a suppression finding recorded in remand could not be reopened in de novo proceedings, and once the credit demand failed, the related interest and penalty proposals could not survive. Case-Laws Central Excise Fri, 10 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52352