https://www.taxtmi.com/caselaws?id=82931 Credit validly earned under Rule 57K and standing in the assessee's RG 23 Part-II account was not retrospectively extinguished by rescission of the notification under which it arose. The distinction between earning credit and utilising credit was material, and a rescinding notification did not, without express words or necessary implication, take away an accrued right to use already earned credit. The credit therefore remained available for utilisation after rescission, and denial of such use was unsustainable. en-us Tue, 05 Oct 1993 00:00:00 +0530 Fri, 08 Jul 2011 12:33:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82931 Credit validly earned under Rule 57K and standing in the assessee's RG 23 Part-II account was not retrospectively extinguished by rescission of the notification under which it arose. The distinction between earning credit and utilising credit was material, and a rescinding notification did not, without express words or necessary implication, take away an accrued right to use already earned credit. The credit therefore remained available for utilisation after rescission, and denial of such use was unsustainable. Case-Laws Central Excise Tue, 05 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82931