TMI Blog2016 (11) TMI 315X X X X Extracts X X X X X X X X Extracts X X X X ..... payable by an adjudicating authority. The debit entry has been made on the basis of an assumption that the petitioner would be entitled to a credit in respect of certain goods. That credit may or may not ultimately fructify. Without that credit actually fructifying, the petitioner cannot claim such credit for the purpose of making a debit entry in discharge of its liability. First a credit has to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hs should be treated as a deposit in terms of the earlier order of the Appellate Tribunal and the appeal should be directed to be heard. 3. The Customs authorities are represented. 4. The appeal was preferred by the petitioner from an order of adjudication. In the appeal, the petitioner was directed to deposit an entire amount of duty and penalty by the order dated May 24, 2006. The order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espect of certain goods. That credit may or may not ultimately fructify. Without that credit actually fructifying, the petitioner cannot claim such credit for the purpose of making a debit entry in discharge of its liability. First a credit has to become an asset of the petitioner for the same being used for the purpose of discharge a liability of the petitioner. By making a debit entry, essential ..... X X X X Extracts X X X X X X X X Extracts X X X X
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