2012 (8) TMI 862

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..... Central Excise Act subsists to be transferred. Sub-rule (1) of Rule 10 ibid contemplates transfer of unutilized Cenvat credit upon shifting of factory to another site or transfer of its ownership to another person. Sub-rule (3) states that such transfer of Cenvat credit shall be allowed only if the stock of the inputs as such or the inputs in process or the capital goods is also transferred along .....

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..... jurisdictional Assistant Commissioner for transfer of the unutilized Cenvat credit of the closed units to a surviving unit, that upon physical inspection, no stock of inputs or unprocessed materials were found in the closed units and that in the circumstances the said application was rejected by the original authority. It is further submitted that the learned Commissioner (Appeals) set aside the o .....

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..... he stock of the inputs as such or the inputs in process or the capital goods is also transferred along with the factory to the new site or along with the transfer of ownership of the factory to another person. Prima facie, the argument put forth by the learned Superintendent (AR) on the basis of these provisions of law are valid. 4. The stay application is allowed. (Pronounced dictated in op .....

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