9911796707
TMI Blog2011 (5) TMI 440X X X X Extracts X X X X X X X X Extracts X X X X ..... by virtue of the Hon'ble High Court of Delhi and Bombay judgments for demerger of unit - In terms of the said scheme, all assets and properties whether movable or immovable, benefits available under any rules, regulations, statutes including direct and indirect taxes and particularly sales tax benefits, Cenvat benefit, import and export benefit of customs duty of the demerged company in relation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rest under rule 14 of Cenvat Credit Rules, 2004 read with section 75 of the Finance Act, 1994; and (iii) Penalty of Rs. 2,58,00,000 under rule 15(4) of the Cenvat Credit Rules, 2004 read with section 78 of the Act. 2. Heard both sides and perused the records. 3. The above demand has been confirmed by the adjudicating authority along with interest and consequent penalty on the ground that the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit. 5. The learned JDR draws our attention to various allegations made in the show-cause notice and findings of the adjudicating authority specifically at paragraphs 17 and 22 of the Order-in-Original. It is the submission that the appellant has not produced any duty paying documents before the adjudicating authority. It is the submission that the appellant has not even intimated the demerger o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s duty of the demerged company in relation to the BPO Division shall become part of the resulting company without any act or deed on the part of the demerged company. From the above reproduced findings, we find that there is no dispute that the appellant is eligible to avail of Cenvat credit. At this juncture, we find that the appellant has produced proper duty paying documents. The scheme of deme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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