https://www.taxtmi.com/caselaws?id=206756 Grey fabrics were treated as input goods for transitional credit under Notification No. 35/2003-CE (N.T.), and that character was not lost because the goods were held by a dealer rather than directly by a processor. The Tribunal followed its earlier ruling, affirmed by the Gujarat High Court, that man-made grey fabrics are finished goods in the hands of the manufacturer but remain inputs for the processor. The notification was read to cover stock held through traders as well as stock lying with processors, so transitional credit could not be denied on the dealer objection. The Revenue challenge failed and the assessee's credit entitlement was sustained. en-us Fri, 14 Oct 2011 00:00:00 +0530 Tue, 15 Nov 2011 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206756 Grey fabrics were treated as input goods for transitional credit under Notification No. 35/2003-CE (N.T.), and that character was not lost because the goods were held by a dealer rather than directly by a processor. The Tribunal followed its earlier ruling, affirmed by the Gujarat High Court, that man-made grey fabrics are finished goods in the hands of the manufacturer but remain inputs for the processor. The notification was read to cover stock held through traders as well as stock lying with processors, so transitional credit could not be denied on the dealer objection. The Revenue challenge failed and the assessee's credit entitlement was sustained. Case-Laws Central Excise Fri, 14 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206756