2007 (3) TMI 277

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... learned Counsel for the respondent. 2. The learned Counsel for the appellant seeks leave to amend the questions of law as per the draft tendered herein. The draft for additional questions of law tendered by the learned Counsel for the appellant is taken on record and marked 'X' for identification. As per the said draft following questions are sought to be amended : 1. Whether in the fact circum....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... as under : "…..it loses sight of the fact that provision for facility of credit is as good as tax paid till tax is adjusted on future goods on the basis of the several commitments which would have been made by the assessees concerned……" The Supreme Court further observed as under : "…….we have no hesitation to hold that the rule cannot be applied to the goods manufactured prior to 16....