2001 (5) TMI 699

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..... [Order per : Gowri Shankar, Member (T)]. Sunrise Soaps Chemicals Private Ltd., the appellant in Appeal E/647/94, utilises in the manufacture of soap by it one of the specified minor oils for use of which money credit under Rule 57K was permitted by Notification 192/87. The Department proposed to disallow credit on the ground that one of the conditions in the notification, that if the o .....

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..... considered the eligibility of this company to utilisation of the Modvat credit earned by Sunrise Soaps Ltd prior to the takeover. After considering the law on the subject, it concluded that Hindustan Lever Ltd had stepped into the shoes of Sunrise, taking over the assets as well as the liabilities that were otherwise those of Sunrise. It therefore held that such credit could be utilised by Hindus .....

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