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2017 (1) TMI 412 - AT - Central ExciseWhether unutilized deemed credit lying in balance availed under N/N. 6/2002-CE(NT) dt. 1.3.2002 will be allowed to be utilized for clearance of goods after 1.4.2003 in the light of N/N. 8/2003-C.E.(NT) dt. 1.3.2003 by which provision of deemed credit was withdrawn? - Held that: - the accumulated deemed credit lying on 31.3.2003 were admittedly availed prior that date when the N/N. 6/2002-CE(NT) was in force. Therefore the credit availed under the authority of law. There was no provision either for lapsing the accumulated credit balance as of 31.3.2003 or reversal thereof - in the absence of any provision the credit which was legally availed, cannot be lapsed or to be reversed - appeal allowed - decided in favor of appellant.
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