https://www.taxtmi.com/caselaws?id=88322 Deemed credit under the tariff scheme was confined to the specified category of inputs and did not extend to old and used waste and scrap of iron and steel purchased from the market. The Chapter 72 definition of waste and scrap, together with departmental clarification, supported that exclusion, so the credit claim was inadmissible. The assessee had also been expressly told not to avail the credit and was required to challenge that direction through the proper appellate route; continuing to use the credit could not be justified by a plea of bona fide belief. The disallowance of deemed credit was therefore upheld and the departmental order confirmed. en-us Mon, 02 Feb 1998 00:00:00 +0530 Fri, 16 Sep 2011 18:12:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88322 Deemed credit under the tariff scheme was confined to the specified category of inputs and did not extend to old and used waste and scrap of iron and steel purchased from the market. The Chapter 72 definition of waste and scrap, together with departmental clarification, supported that exclusion, so the credit claim was inadmissible. The assessee had also been expressly told not to avail the credit and was required to challenge that direction through the proper appellate route; continuing to use the credit could not be justified by a plea of bona fide belief. The disallowance of deemed credit was therefore upheld and the departmental order confirmed. Case-Laws Central Excise Mon, 02 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88322