https://www.taxtmi.com/caselaws?id=170296 Transitional deemed credit under the textile scheme is available only when the stock declaration clearly shows eligible goods in stock, in process, or in finished products on the relevant date, with particulars sufficient to verify the premises and stock position. A declaration referring only to grey fabric "in transit" without the address of the premises or other identifying details failed that requirement, so deemed credit was denied. The note also records that, although the credit was inadmissible, the facts did not justify punishment, and the penalty was set aside. en-us Tue, 11 Sep 2007 00:00:00 +0530 Fri, 22 May 2015 10:26:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170296 Transitional deemed credit under the textile scheme is available only when the stock declaration clearly shows eligible goods in stock, in process, or in finished products on the relevant date, with particulars sufficient to verify the premises and stock position. A declaration referring only to grey fabric "in transit" without the address of the premises or other identifying details failed that requirement, so deemed credit was denied. The note also records that, although the credit was inadmissible, the facts did not justify punishment, and the penalty was set aside. Case-Laws Central Excise Tue, 11 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170296