Appellate Tribunal affirms entitlement to Notional Modvat credit within a reasonable six-month period The appeal by the Commissioner was dismissed by the Appellate Tribunal CEGAT, Mumbai. The Tribunal upheld the respondent's entitlement to take Notional ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Appellate Tribunal affirms entitlement to Notional Modvat credit within a reasonable six-month period
The appeal by the Commissioner was dismissed by the Appellate Tribunal CEGAT, Mumbai. The Tribunal upheld the respondent's entitlement to take Notional Modvat credit in October 1991 for goods received and credit taken in June 1991, following the precedent set in CCE v. Mysore Lac & Paints Works. It was determined that a reasonable period for taking notional credit was six months in this instance.
The Appellate Tribunal CEGAT, Mumbai dismissed the appeal by the Commissioner challenging the decision that the respondent was entitled to take Notional Modvat credit in October 1991 for goods received and credit taken in June 1991. The Tribunal applied the decision in CCE v. Mysore Lac & Paints Works, allowing notional credit to be taken within a reasonable period, found to be six months in this case.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
