https://www.taxtmi.com/caselaws?id=81190 Inputs held in stock before filing the MODVAT declaration were treated as qualifying for credit under Rule 57H, because the phrase "immediately before" was construed in light of the scheme's object and legislative intent rather than by a narrow temporal reading. Where the inputs were duty-paid and supporting evidence was available, credit could not be denied merely because the declaration was filed later. The broader interpretation advanced the purpose of the MODVAT scheme and preserved credit entitlement for eligible stock on hand before acknowledgement of the declaration. en-us Sat, 22 Dec 1990 00:00:00 +0530 Thu, 23 Jun 2011 10:23:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81190 Inputs held in stock before filing the MODVAT declaration were treated as qualifying for credit under Rule 57H, because the phrase "immediately before" was construed in light of the scheme's object and legislative intent rather than by a narrow temporal reading. Where the inputs were duty-paid and supporting evidence was available, credit could not be denied merely because the declaration was filed later. The broader interpretation advanced the purpose of the MODVAT scheme and preserved credit entitlement for eligible stock on hand before acknowledgement of the declaration. Case-Laws Central Excise Sat, 22 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81190