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TMI Blog1985 (3) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... ived by the High Court, have again been pressed by the appellant company before us in these appeals but after hearing counsel for the appellant company at some length and after going through the relevant provisions of the said scheme, relevant sections of the I.T. Act, 1961, and S. 80 of the Finance Act, 1965, we are satisfied that the High Court was right in the view which it took on both the contentions and the appeals deserve to be dismissed. With a view to encourage investment in new equity shares and to stimulate industrial output, the Government of India introduced certain special provisions in Chapter XXII-B of the I.T. Act, 1961, for the grant of tax credit certificate and S. 280ZD is one of such provisions which provides for the g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e amount of special excise duty paid by it under S. 80 of the Finance Act. The concerned authority granted tax credit certificate only in respect of the Central Excise Duty levied under the Excise Act, taking the view that the appellant was not entitled to have any tax credit in respect of any other excise duty levied under a different enactment, namely, S. 80 of the Finance Act. The appellant challenged before the High Court the aforesaid view of the authorities but the High Court negatived the challenge principally on the ground that tax credit would not be available to the appellant company in respect of the special excise duty levied under s. 80 of the Finance Act having regard to the special meaning assigned to the expression " duty of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of excise in respect whereof tax credit is available would be in respect of such duty of excise as is chargeable under the Excise Act and clearly the special excise duty in respect whereof additional tax credit is sought by -the appellant company is not chargeable under the Excise Act but chargeable under the Finance Act. Sub-clauses (3) and (4) of s. 80 of the Finance Act on which reliance has been placed by the counsel for the appellant company in terms refer to the procedural aspect such as the quantification and collection of duty and simply because the quantification and collection of the special duty under the Finance Act is to be done in accordance with the provisions of the Excise Act, such duty does not become leviable, that is t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned. Counsel, however, urged that the delay in filing the supplementary application ought to have been condoned having regard to the trade notice that had been issued on June 29, 1967, inasmuch as the supplementary application could be said to have been made because of the clarification issued under that trade notice. It is, however, clear that by the trade notice, no amendment was effected but merely a clarification of the existing position in law was given and, therefore, the trade notice could not furnish a starting point of limitation for the supplementary application. In our view, both the contentions were rightly rejected by the High Court and the appeals are dismissed but without costs. In view of what is stated above the special l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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