https://www.taxtmi.com/caselaws?id=85940 A later rescission of an exemption notification did not retroactively change the aggregate value of clearances for a completed financial year when the earlier exemption was in force during that year. The computation for 1984-85 remained fixed by the exemption then applicable, and the phrase "for the time being in force" was applied with reference to the period of actual clearances, not by reopening a settled year after rescission. Explanation II(a) was treated as limited to cases where the exemption itself depended on value or quantity of clearances in a financial year, so it did not justify revising the earlier computation. The assessee remained entitled to small scale exemption. en-us Tue, 01 Oct 1996 00:00:00 +0530 Tue, 09 Aug 2011 11:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85940 A later rescission of an exemption notification did not retroactively change the aggregate value of clearances for a completed financial year when the earlier exemption was in force during that year. The computation for 1984-85 remained fixed by the exemption then applicable, and the phrase "for the time being in force" was applied with reference to the period of actual clearances, not by reopening a settled year after rescission. Explanation II(a) was treated as limited to cases where the exemption itself depended on value or quantity of clearances in a financial year, so it did not justify revising the earlier computation. The assessee remained entitled to small scale exemption. Case-Laws Central Excise Tue, 01 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85940