https://www.taxtmi.com/caselaws?id=52819 Refund of accumulated deemed Modvat credit was held admissible where the compounded levy scheme prevented utilisation of the credit. The provisions governing refund and the related notification procedure were construed broadly, and the phrase "for any reason" was read to include non-adjustment of credit caused by the shift in levy regime. The refund claim, arising from export-related accumulation, was therefore not defeated by the inability to set off the credit under the new scheme. The limitation objection was not a basis for rejection because it had not been relied on by the adjudicating authority. en-us Wed, 10 Mar 2004 00:00:00 +0530 Fri, 08 Oct 2010 09:54:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52819 Refund of accumulated deemed Modvat credit was held admissible where the compounded levy scheme prevented utilisation of the credit. The provisions governing refund and the related notification procedure were construed broadly, and the phrase "for any reason" was read to include non-adjustment of credit caused by the shift in levy regime. The refund claim, arising from export-related accumulation, was therefore not defeated by the inability to set off the credit under the new scheme. The limitation objection was not a basis for rejection because it had not been relied on by the adjudicating authority. Case-Laws Central Excise Wed, 10 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52819