2005 (10) TMI 467

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..... Bablani, JCDR, for the Respondent. [Order] -  Heard both sides. 2. The subject appeals relate to two different periods when the benefit given under money credit scheme was rescinded once on 25-8-1989 through the notification No. 39/89 and (later in the second case) on 23-3-1996 as well vide notification No. 16/96. When the notifications were rescinded, the appellants debited t....

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.... the notification that the word 'rescind' or the word 'withdrawn' by themselves have the effect of taking away the credit already granted and accrued in the asset is being withdrawn or rescind in the scheme and not the credit. The respondent's contention is that the word 'rescind' and 'withdrawn' relate to the credit is not acceptable on the basis of grammatical construction of the notification". ....