https://www.taxtmi.com/caselaws?id=93385 Notification No. 27/94-NT was treated as enlarging the Modvat scheme by extending credit to capital goods acquired on lease, hire-purchase or loan, so it was not merely clarificatory and did not operate retrospectively. The entitlement turned on when the goods were "acquired"; for leased or loaned capital goods, acquisition was complete when the transaction was concluded and the goods reached the assessee's premises. Later filing of the declaration, installation, or commissioning did not create a substantive right to credit. Rule 57Q(2) was held not to extend entitlement to such goods under the later notification. en-us Tue, 01 Feb 2000 00:00:00 +0530 Thu, 10 Nov 2011 13:04:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93385 Notification No. 27/94-NT was treated as enlarging the Modvat scheme by extending credit to capital goods acquired on lease, hire-purchase or loan, so it was not merely clarificatory and did not operate retrospectively. The entitlement turned on when the goods were "acquired"; for leased or loaned capital goods, acquisition was complete when the transaction was concluded and the goods reached the assessee's premises. Later filing of the declaration, installation, or commissioning did not create a substantive right to credit. Rule 57Q(2) was held not to extend entitlement to such goods under the later notification. Case-Laws Central Excise Tue, 01 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93385