https://www.taxtmi.com/caselaws?id=32047 The appellant, engaged in manufacturing grey fabrics, faced a demand for wrongly utilizing credit for paying basic excise duty. The issue was whether such utilization was permissible. The Tribunal held that using credit for basic excise duty payment was impermissible. The appellant argued they only needed to reverse credit on basic excise duty in their accounts, not the utilized credit. The High Court supported the appellant, stating the credit need not be reversed if correctly utilized. The appeal was allowed in favor of the appellant, emphasizing the importance of complying with legal provisions on credit utilization. en-us Wed, 21 May 2008 00:00:00 +0530 Sat, 10 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32047 The appellant, engaged in manufacturing grey fabrics, faced a demand for wrongly utilizing credit for paying basic excise duty. The issue was whether such utilization was permissible. The Tribunal held that using credit for basic excise duty payment was impermissible. The appellant argued they only needed to reverse credit on basic excise duty in their accounts, not the utilized credit. The High Court supported the appellant, stating the credit need not be reversed if correctly utilized. The appeal was allowed in favor of the appellant, emphasizing the importance of complying with legal provisions on credit utilization. Case-Laws Central Excise Wed, 21 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32047