2009 (11) TMI 610 - AT - Service Tax

Cenvat credit - Change in the name of company - Credit available before change in the name utilized after change in name - Rule 9 of the Cenvat Credit Rules, 2004 - The objection of the department is that the order of the Assistant Commissioner was in favour of SVASRML and not the assessee SVSPL - Held that only the name of the company changed from SVASRML to SVSPL - The constitution of the company has not changed - the transfer of credit from SVASRML to SVSPL is permissible in law - Decided in favor of the assessee

Summary

The Appellate Tribunal CESTAT, Chennai ruled in favor of M/s. Sri Varahiamman Steels (P) Ltd., allowing the transfer of credit from SVASRML to SVSPL. The appeal of the assessee was allowed, and the appeal of the Revenue was rejected. The penalty amount was not specified.