https://www.taxtmi.com/caselaws?id=86691 Exemption under Notification No. 47/90-C.E. was examined for yarn supplied to a registered cooperative society where payment was made by demand draft or letter of credit instead of a cheque drawn on the purchaser's own bank account. The payment condition was treated as directory, not mandatory, because the purchaser was otherwise eligible and the banking instruments used amounted to substantial compliance with the notification. On that basis, the substantive exemption requirement was satisfied and the exemption remained available. en-us Tue, 13 May 1997 00:00:00 +0530 Fri, 26 Aug 2011 15:30:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86691 Exemption under Notification No. 47/90-C.E. was examined for yarn supplied to a registered cooperative society where payment was made by demand draft or letter of credit instead of a cheque drawn on the purchaser's own bank account. The payment condition was treated as directory, not mandatory, because the purchaser was otherwise eligible and the banking instruments used amounted to substantial compliance with the notification. On that basis, the substantive exemption requirement was satisfied and the exemption remained available. Case-Laws Central Excise Tue, 13 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86691