https://www.taxtmi.com/caselaws?id=90965 An exemption notification conditioned benefit on non-availment of Modvat credit under the Central Excise Rules, and that condition could not be bypassed by transfer of an advance licence. The customs exemption had to be tested independently of the licensing authority's endorsement of transferability, and the transferee could not claim a better position than the original licensee. Reversal of Modvat credit after shipment did not cure the prior breach of the substantive exemption condition. The notification had to be read as a whole, so the transferee was not entitled to exemption. en-us Wed, 21 Apr 1999 00:00:00 +0530 Wed, 12 Oct 2011 18:11:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90965 An exemption notification conditioned benefit on non-availment of Modvat credit under the Central Excise Rules, and that condition could not be bypassed by transfer of an advance licence. The customs exemption had to be tested independently of the licensing authority's endorsement of transferability, and the transferee could not claim a better position than the original licensee. Reversal of Modvat credit after shipment did not cure the prior breach of the substantive exemption condition. The notification had to be read as a whole, so the transferee was not entitled to exemption. Case-Laws Customs Wed, 21 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90965