https://www.taxtmi.com/caselaws?id=210124 Deemed MODVAT credit on grey fabrics lying in stock on 01.04.2004 was upheld because the fabrics were sent to job workers under the assessee's invoices for processing under the prescribed procedure, and duty was paid when the processed goods were cleared. In that revenue-neutral situation, denial of transitional credit was not justified. The objection based on an alert circular and alleged non-existence of the unit could not prevail, as those points were not part of the show-cause notice or the orders below and did not displace the factual findings on remand. The demand with interest was therefore not sustainable. en-us Wed, 27 Apr 2011 00:00:00 +0530 Wed, 26 Jun 2013 19:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210124 Deemed MODVAT credit on grey fabrics lying in stock on 01.04.2004 was upheld because the fabrics were sent to job workers under the assessee's invoices for processing under the prescribed procedure, and duty was paid when the processed goods were cleared. In that revenue-neutral situation, denial of transitional credit was not justified. The objection based on an alert circular and alleged non-existence of the unit could not prevail, as those points were not part of the show-cause notice or the orders below and did not displace the factual findings on remand. The demand with interest was therefore not sustainable. Case-Laws Central Excise Wed, 27 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210124