2005 (1) TMI 474

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..... [Order per : P.G. Chacko, Member (J) (Oral)]. M/s. PLR Industries Ltd. were engaged in the manufacture of excisable goods and were availing of the benefit of Modvat Credit on capital goods and inputs. All their assets and liabilities were taken over by M/s. PLR Textiles Ltd., under the High Court s amalgamation order dated 29-4-1998 with effect from 1-7-1997. At the time of such transfer of .....

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..... dit was part of the assets transferred to the latter under the High Court s amalgamation order. The Consultant further argues that non-obtaining of prior permission of the Assistant Commissioner in terms of Rule 57F(20) and 57S(5) is, at best, a minor procedural lapse and the same cannot be cited by the Revenue to defeat the appellants substantive right to avail Modvat credit. 3. The learned JD .....

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..... apse. There is no dispute of the fact that the appellants were eligible to apply for the Assistant Commissioner s permission under the rules and that if such application has been made on the strength of the High Court s amalgamation order, the transfer of the credits in question would have been allowed under the said Rules. We are told that the present CENVAT Rules contain analogous provisions. If .....

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