https://www.taxtmi.com/caselaws?id=89295 Repeated and continuing sales of carded/combed cotton sliver to other mills established that the product was marketable and saleable goods, so machinery used to produce it fell within the Rule 57Q exclusion and Modvat credit on the carding machine and speed frame was unavailable up to 20-10-1994. Notification No. 60/94 (N.T.) dated 21-10-1994 was held not to be retrospective, because its text contained no express declaratory or clarificatory language indicating such effect. The Revenue's position prevailed, the appellate orders were set aside, and denial of Modvat credit was restored. en-us Tue, 30 Jun 1998 00:00:00 +0530 Mon, 26 Sep 2011 10:53:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89295 Repeated and continuing sales of carded/combed cotton sliver to other mills established that the product was marketable and saleable goods, so machinery used to produce it fell within the Rule 57Q exclusion and Modvat credit on the carding machine and speed frame was unavailable up to 20-10-1994. Notification No. 60/94 (N.T.) dated 21-10-1994 was held not to be retrospective, because its text contained no express declaratory or clarificatory language indicating such effect. The Revenue's position prevailed, the appellate orders were set aside, and denial of Modvat credit was restored. Case-Laws Central Excise Tue, 30 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89295