2008 (1) TMI 724

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..... I have heard both sides on the appeal of the Revenue against the order of the Commissioner (Appeals) who has held that the assessees/respondents herein are eligible to take 50% balance credit in the year 2002-03 even when capital goods had not yet been installed. I find that the appeal can be disposed of on the ground that during the period in dispute, the C.B.E.C. had issued Circular F. No. .....

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..... rcular detrimental to the assessees, providing that balance 50% credit can be taken only after capital goods are installed, was issued only in the year 2006 and it has been held by the Apex Court in Suchitra Components Ltd. v. CCE, Guntur, 2007 (208) E.L.T. 321 (S.C). that while a beneficial circular is to be applied retrospectively, oppressive circular is applicable only prospectively. In this ca .....

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