https://www.taxtmi.com/caselaws?id=106755 Under the Pass Book Scheme, credit for exports of glacial acetic acid had to be computed by reference to the industrially relevant input and the applicable import restrictions. The Tribunal treated denatured ethyl alcohol as the appropriate deemed import input for manufacture of the exported product and held that undenatured ethyl alcohol, being associated with potable use and falling within the restricted or negative-list category, could not be substituted merely because the norm referred generally to ethyl alcohol. It also held that the DGFT clarification could not override the scheme's policy intent or the relevant customs classification. The credit claim based on undenatured ethyl alcohol was therefore rejected and the Revenue's challenge succeeded. en-us Tue, 08 Oct 2002 00:00:00 +0530 Thu, 15 Mar 2012 15:33:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106755 Under the Pass Book Scheme, credit for exports of glacial acetic acid had to be computed by reference to the industrially relevant input and the applicable import restrictions. The Tribunal treated denatured ethyl alcohol as the appropriate deemed import input for manufacture of the exported product and held that undenatured ethyl alcohol, being associated with potable use and falling within the restricted or negative-list category, could not be substituted merely because the norm referred generally to ethyl alcohol. It also held that the DGFT clarification could not override the scheme's policy intent or the relevant customs classification. The credit claim based on undenatured ethyl alcohol was therefore rejected and the Revenue's challenge succeeded. Case-Laws Central Excise Tue, 08 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106755