https://www.taxtmi.com/caselaws?id=3655 Assessees were entitled to deemed credit on inputs lying in stock on 1-4-2000 after abolition of the compounded levy scheme, where stock records were maintained and the inputs had been purchased from units operating under that scheme. Board Circular No. 522/2000 permitted similarly placed assessees to avail such credit, and the departmental authorities did not dispute the quantum or object when the credit was intimated in advance and reflected in returns. Denial of the credit was therefore held to be not legal or proper, and the entitlement to deemed credit was upheld. en-us Tue, 27 Nov 2007 00:00:00 +0530 Mon, 21 Apr 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3655 Assessees were entitled to deemed credit on inputs lying in stock on 1-4-2000 after abolition of the compounded levy scheme, where stock records were maintained and the inputs had been purchased from units operating under that scheme. Board Circular No. 522/2000 permitted similarly placed assessees to avail such credit, and the departmental authorities did not dispute the quantum or object when the credit was intimated in advance and reflected in returns. Denial of the credit was therefore held to be not legal or proper, and the entitlement to deemed credit was upheld. Case-Laws Central Excise Tue, 27 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3655