2005 (6) TMI 490

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... The appellants filed this appeal against the order-in-appeal passed by the Commissioner (Appeals) whereby the benefit of Modvat credit of Rs. 1,46,834/- was denied and demand of this amount is confirmed and penalty of Rs. 25,000/- is imposed. 3 Brief facts of the case are that appellants purchased the Unit in question M/s. Ashirwad Ispat Udyog on 31-12-2001 and as per transfer deed dated 31-12-2 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ake the liability to the previous manufacturer. Therefore, they are entitled for the credit which lying unutilised in the account of previous manufacturer. 5. The contention of the Revenue is that as per the sale deed, the Unit was taken over by the appellants without any liability and subsequent undertaking without any amendment in the sale deed has no effect. 6. I find that the Rule 8 of the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X