2003 (11) TMI 228

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....edit and penalty imposed. Briefly stated the issue involved is whether credit prior to payment of lease rental in capital goods acquired under lease agreements in contravention of Rule 57(3)(ii)(b). 2. The rules permit the eligibility of credit on the capital goods taken on lease/rental Rule 57R(3) as the rule was enacted on 1-3-1994, thereafter an amendment was brought vide Notification No. 26....