1988 (5) TMI 173 - AT - Income Tax

Summary

The appeal was against the denial of MODVAT benefit for bare aluminium and copper strips used in manufacturing paper-covered strips. The appellant claimed MODVAT credit under Rule 57A, but it was rejected due to Notification No. 197/86. The Tribunal upheld the denial, stating that MODVAT credit was only available from the date of the notification, March 14, 1986, onwards. The appeal was dismissed.