https://www.taxtmi.com/caselaws?id=8360 The court ruled in three Civil Writ Petitions involving the interpretation of the Tax Credit Certificate Scheme, 1965 for the cement industry. It held that the special excise duty under section 80 of the Finance Act, 1965 cannot be considered for the tax credit certificate calculation, which is based solely on the basic excise duty under the Excise Act. The court upheld the authority's method of calculating the certificate at 25% of the basic excise duty, excluding additional excise duties. It also affirmed that the Central authority cannot condone delays in filing applications beyond the specified sixty-day limit, dismissing the petitions without costs. en-us Fri, 30 Apr 1971 00:00:00 +0530 Fri, 10 Apr 2009 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8360 The court ruled in three Civil Writ Petitions involving the interpretation of the Tax Credit Certificate Scheme, 1965 for the cement industry. It held that the special excise duty under section 80 of the Finance Act, 1965 cannot be considered for the tax credit certificate calculation, which is based solely on the basic excise duty under the Excise Act. The court upheld the authority's method of calculating the certificate at 25% of the basic excise duty, excluding additional excise duties. It also affirmed that the Central authority cannot condone delays in filing applications beyond the specified sixty-day limit, dismissing the petitions without costs. Case-Laws Income Tax Fri, 30 Apr 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8360