2007 (9) TMI 96

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.... deemed credit on grey fabrics lying in stock as on 31-3-2003 was allowed. Subsequently, amended Notification was issued whereby the assessee was to declare the stock as on 1-4-2003. 3. The Revenue thereafter issued a clarification dated 28-3-2003 to the effect that in pursuance to the Notification No. 25/2003 dated 25-3-2003, the trade is informed that in case the declared stock as on 31-3-2003 is kept in a place other than the registered/to be registered premises, the address of the said premise or premises where such stock is kept, must be declared by the assessee in the stock declaration. The appellants filed declaration on 1-4-2003 declaring the stock as on 31-3-2003. Subsequently an amended notification was issued whereby the asses....

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....gaon, and in some cases the address is given as in a godown or with the transporter. Therefore, in this situation, the appellant had not complied with the condition of deemed credit order. The contention is that it has been clarified by the Board that in case the stock of grey fabrics is kept in a place other than any registered/to be registered premises, the address of the said premise or premises where such stock is kept, must be declared in the stock register. As the appellants had simply mentioned at a godown at Nayagaon or with the transporter, without giving any particulars regarding the address or the name of the transporter, the appellants are not entitled for credit. The revenue relied upon the decision of the Hon'ble Supreme Court....