2008 (1) TMI 724

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....aichandani, Advocate, for the Respondent. [Order]. -  I have heard both sides on the appeal of the Revenue against the order of the Commissioner (Appeals) who has held that the assessees/respondents herein are eligible to take 50% balance credit in the year 2002-03 even when capital goods had not yet been installed. I find that the appeal can be disposed of on the ground that during the....

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....uch circular is binding upon the Revenue. The subsequent circular detrimental to the assessees, providing that balance 50% credit can be taken only after capital goods are installed, was issued only in the year 2006 and it has been held by the Apex Court in Suchitra Components Ltd. v. CCE, Guntur, 2007 (208) E.L.T. 321 (S.C). that while a beneficial circular is to be applied retrospectively, oppre....