https://www.taxtmi.com/caselaws?id=377405 Deemed credit under Notification No. 29/96-CE (N.T.), as amended, was examined in the context of stock lying on 02.06.1998 and clearances made thereafter. The text states that where an assessee had earlier taken actual credit under Rule 57H but later reversed that credit on direction, reversal may operate in law as non-availment if the notification does not expressly prohibit such reversal. It also notes that strict construction of exemption notifications did not alter the result on these facts because the notification was not ambiguous on reversal of credit. The discussion is limited to the notification's terms and the effect of credit reversal on eligibility. en-us Wed, 13 Mar 2019 00:00:00 +0530 Sat, 31 Aug 2019 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377405 Deemed credit under Notification No. 29/96-CE (N.T.), as amended, was examined in the context of stock lying on 02.06.1998 and clearances made thereafter. The text states that where an assessee had earlier taken actual credit under Rule 57H but later reversed that credit on direction, reversal may operate in law as non-availment if the notification does not expressly prohibit such reversal. It also notes that strict construction of exemption notifications did not alter the result on these facts because the notification was not ambiguous on reversal of credit. The discussion is limited to the notification's terms and the effect of credit reversal on eligibility. Case-Laws Central Excise Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377405