Minutes of the Monthly Modvat Meeting held at Bombay on 22-4-1989 - Point No. 27 - Request for issue of clarification regarding admissibility of money credit under Notification. No. 192/87, dated 12-8-1987
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Admissibility of money credit: interim credit permitted where collectors verify private records showing specified use. Money credit should not be denied during the intervening period between the notification and trade notices if the Collector, on examination of the assessee's private records, is satisfied that the oils were actually used for the purposes specified in the notification; each case must be decided on merit and field formations and trade interests informed.
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.
Admissibility of money credit: interim credit permitted where collectors verify private records showing specified use.
Money credit should not be denied during the intervening period between the notification and trade notices if the Collector, on examination of the assessee's private records, is satisfied that the oils were actually used for the purposes specified in the notification; each case must be decided on merit and field formations and trade interests informed.
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