9911796707
TMI Blog2007 (9) TMI 496X X X X Extracts X X X X X X X X Extracts X X X X ..... sfer the available credit along with inputs and capital goods in stock at a factory to the factory at a new location - In the instant case, the finding of the authorities is to the effect that the appellants had satisfactorily accounted for the inputs and capital goods and they had transferred these materials along with the credit balance available. This was in accordance with law - appeal allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit account when the factory was shifted to a new premises on 1-4-2004. In the order of the original authority, the Joint Commissioner had dropped the proposals to recover the said credit on the ground that the assessee had satisfactorily accounted for the credit as well as the inputs and capital goods received by them and transferred to the new premises. The original authority had found that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s available in stock along with the credit available in their Cenvat account. The inputs and capital goods were accounted for to the satisfaction of the departmental authorities as is seen from the order of the original authority. The impugned order has demanded the credit transferred into the Cenvat account of the new factory in excess of the credit corresponding to the physical stock of inputs t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is also transferred along with the factory to the new site or ownership and the inputs or capital goods on which credit has been availed of are duly accounted for to the satisfaction of the Commissioner. The Rule does not require that the assessee can transfer credit corresponding only to the quantum of inputs transferred to a new factory. The rule permits the assessee to transfer the available ..... X X X X Extracts X X X X X X X X Extracts X X X X
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