2000 (9) TMI 352 - AT - Central Excise

Summary

The Revenue appealed against a decision allowing a manufacturer of motor vehicles to avail credit of Modvat on inputs/capital goods. The department proposed to deny certain credits, but the Commissioner (Appeals) ruled in favor of the manufacturer. The Revenue's appeal was rejected by the Appellate Tribunal CEGAT, Chennai, stating that restrictions on credit availed cannot be retrospective and must be prospective. The Commissioner (Appeals) order was upheld.