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2008 (9) TMI 384 - HIGH COURT OF HIMACHAL PRADESH AT SHIMLAProforma credit - Withdrawal of benefit - Whether party can utilize the accumulated proforma credit to pay duty on finished goods when proforma credit facility itself was withdrawn in respect of Aluminium Ingots vide N/N. 269/79, dated 4-10-79? - Held that: - Rule 56-A, as it stood at the relevant time, did not contain any provision which would indicate that the revenue had the right to ask the assessee to repay the amount of credit which had already been claimed under the earlier notification. It is well-settled law that all notifications which may affect the rights of the parties are treated to be prospective in nature unless the notification itself clearly indicates that it will have retrospective effect. This is not so in the present case - appeal dismissed - decided against Revenue.
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