https://www.taxtmi.com/caselaws?id=42161 Duty exempted under a valid exemption notification is not duty "payable" for purposes of tax credit under Section 280ZD of the Income-tax Act, so exempt newsprint could not qualify for credit on that basis. For classification, goods must be assessed by their commercial identity when computing statutory benefits: wrapper paper could be treated as a separate variety because of its distinct thickness and market identity, but the classification of newsprint sold to newspapers and other newsprint required fresh examination. The exemption issue was therefore resolved against the assessee, while the classification issue was remitted for reconsideration. en-us Thu, 31 Jul 1980 00:00:00 +0530 Wed, 09 Jun 2010 15:15:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42161 Duty exempted under a valid exemption notification is not duty "payable" for purposes of tax credit under Section 280ZD of the Income-tax Act, so exempt newsprint could not qualify for credit on that basis. For classification, goods must be assessed by their commercial identity when computing statutory benefits: wrapper paper could be treated as a separate variety because of its distinct thickness and market identity, but the classification of newsprint sold to newspapers and other newsprint required fresh examination. The exemption issue was therefore resolved against the assessee, while the classification issue was remitted for reconsideration. Case-Laws Central Excise Thu, 31 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42161