2010 (5) TMI 737

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..... Shiel Industries are proprietary firms owned by Shri Arun Choksi. Shri Arun Choksi decided that the manufacturing in M/s. Disha Industries would be terminated and for this purpose all the inputs and capital goods lying in the factory of M/s. Disha Industries were transferred to the factory premises of M/s. Shiel Industries and credit relating to the inputs and capital goods was also transferred f .....

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..... eligible to take back the credit) and by this order department is taking a stand that in the event of M/s. Shiel Industries paying back the duty demanded, M/s. Disha Industries cannot take the credit back. 2. Heard both the sides. Learned advocate for the appellants submitted that the case is clearly covered by the provisions of Rule 10. In this case Shri Arun Choksi is the Proprietor of both t .....

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..... to the facts of this case since in that case it was a public limited company and the public limited company had simply transferred the credit from one unit to the other. In that case the question before the Tribunal was whether it was legally permissible for transfer of credit from one factory to another and the question was not whether such credit is transferable when there is a transfer of fact .....

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