https://www.taxtmi.com/caselaws?id=413839 Rerollers were held entitled to deemed credit under the 01.03.1994 notification where the exemption scheme they otherwise satisfied contained a Rs. 75 lakh clearance ceiling. The monetary cap was treated as limiting the extent of exemption, not as creating a separate disqualification from deemed credit. The contrary Tribunal view, which treated crossing that limit as destroying eligibility altogether, was held to be an incorrect reading of both the exemption notification and the deemed credit order. The operative principle is that a benefit tied to an exemption notification cannot be denied on the basis of a cap unless the deeming order expressly makes that cap an eligibility bar. en-us Wed, 15 Sep 2021 00:00:00 +0530 Fri, 22 Oct 2021 08:30:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413839 Rerollers were held entitled to deemed credit under the 01.03.1994 notification where the exemption scheme they otherwise satisfied contained a Rs. 75 lakh clearance ceiling. The monetary cap was treated as limiting the extent of exemption, not as creating a separate disqualification from deemed credit. The contrary Tribunal view, which treated crossing that limit as destroying eligibility altogether, was held to be an incorrect reading of both the exemption notification and the deemed credit order. The operative principle is that a benefit tied to an exemption notification cannot be denied on the basis of a cap unless the deeming order expressly makes that cap an eligibility bar. Case-Laws Central Excise Wed, 15 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413839