2005 (9) TMI 150

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....apital goods credit is admissible on spares, components and accessories of machines [falling under Heading No. 84.74 of the CETA Schedule] received in the respondents factory between 23-7-96 and 31-8-96 and used for manufacturing activity. Both the lower authorities allowed the credit to the respondents, giving retrospective effect to Notification No. 25/96-C.E. (N.T.), dated 31-8-96 which, added ....

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....Rule 57Q(1). According to ld. SDR, it is not correct to say that such an amendment has retrospective effect. Ld. Consultant submitted that in the case of J.K Synthetics Ltd. v. CCE - 1996 (88) E.L.T. 785 it had been held by the Tribunal that the above amendment was clarificatory and hence retrospective. 3. After considering the submissions, I find that ld. Commissioner (Appeals) has relied on t....

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.... not correct in relying on the above judgment in holding that goods falling under Heading 84.74 were added to the list of eligible capital goods under Rule 57Q by the above notification with retrospective effect. 4. As rightly submitted by ld. SDR, it is a cardinal principle of interpretation that a statutory provision is prospective in effect unless it is expressly or impliedly made to have re....