2003 (12) TMI 546

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..... The instant appeal relates to denial of deemed credit without production of duty paying documents, as permitted in terms of Notification 29/96-C.E. (N.T.), dated 3-9-1996. The total amount of credit that was denied works out to Rs. 1,09,807/-. The rejection refers to exports made under AR-4 nos. 63/98-99, dated 15-10-1988 (Rs. 99,525/-), 67/98-99, dated 28-10-1998 (Rs. 9,208) and 56/98-99, dated 3 .....

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..... of clearance and not thereafter. By denying the credit, the provision is being interpreted as if, the substantial right of credit gets evaporated in the event the manufacturer does not take credit at the time of clearance. 6. I find considerable force in the argument advanced by the appellants. There is no warrant in the language of the notification to deny the credit if, for some reason, the ma .....

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..... that the assessee s record mentions that the amount of Rs. 9,208/ - in the register as having been utilised. Therefore the findings on this count also cannot be sustained. 8. So far as the amount of Rs. 1,074/ - is concerned, the learned Counsel did not press for this claim during the hearing and therefore, the rejection of this amount is upheld. 9. Accordingly the appeal of the appellants is .....

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