https://www.taxtmi.com/caselaws?id=114296 The fourth proviso to Rule 57F(4) was construed to require that inputs be both received and used in the factory of production on or after 16 March 1995. The word "and" was treated as conjunctive, not interchangeable with "or", so the statutory conditions were cumulative. On that plain reading, Modvat credit could not be extended to inputs received before the specified date, even if other requirements were met. Accordingly, the credit was held not admissible. en-us Wed, 31 Mar 2004 00:00:00 +0530 Mon, 14 May 2012 14:49:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114296 The fourth proviso to Rule 57F(4) was construed to require that inputs be both received and used in the factory of production on or after 16 March 1995. The word "and" was treated as conjunctive, not interchangeable with "or", so the statutory conditions were cumulative. On that plain reading, Modvat credit could not be extended to inputs received before the specified date, even if other requirements were met. Accordingly, the credit was held not admissible. Case-Laws Central Excise Wed, 31 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114296