https://www.taxtmi.com/caselaws?id=118925 Deemed credit under Notification No. 29/2000-C.E. (N.T.) was available for declared inputs lying in stock on 1-4-2000, because the notification treated duty as deemed paid and allowed credit at 12% of the invoice price. A contrary view denying the benefit solely because the inputs were received before that date was incorrect. However, the additional objection that payment had not been made by cheque, bank draft, or banker's cheque required factual verification, as the record did not properly examine that condition. The matter was therefore remanded for a fresh speaking order after giving the assessee due opportunity. en-us Wed, 23 Nov 2005 00:00:00 +0530 Fri, 06 Jul 2012 17:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118925 Deemed credit under Notification No. 29/2000-C.E. (N.T.) was available for declared inputs lying in stock on 1-4-2000, because the notification treated duty as deemed paid and allowed credit at 12% of the invoice price. A contrary view denying the benefit solely because the inputs were received before that date was incorrect. However, the additional objection that payment had not been made by cheque, bank draft, or banker's cheque required factual verification, as the record did not properly examine that condition. The matter was therefore remanded for a fresh speaking order after giving the assessee due opportunity. Case-Laws Central Excise Wed, 23 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118925