Bombay High Court Dismisses Petition Challenging Modvat Credit Lapse Provisions in Finance Act, 1999. Retrospective Validation of Rules Causing Lapse of Accumulated Credit Upheld as Within Legislative Competence and Not Violative of Fundamental Rights.
23 Dec 2005The petitioner, Coral Cosmetics Limited, a company incorporated under the Companies Act, 1956 and registered as a Small Scale Industry, was engaged in...




