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TMI Blog2014 (10) TMI 86X X X X Extracts X X X X X X X X Extracts X X X X ..... submits that they have utilized the credit during the relevant period about ₹ 25 lakhs. We find that the applicant transferred the credit but utilized about 4% of the credit during the material period - the words "at the end of a quarter" in the said Rules would apply from March 2012 quarter and there is no specific mention in the Rules that it would apply from June 2012. Applicant has made out a strong prima facie case for waiver of predeposit of entire amount of duty along with interest and penalty. Accordingly, the predeposit of entire amount of duty along with interest and penalty would be waived and its recovery be stayed till disposal of appeal. - stay granted. - E/40461, 40462/2014 - MISC ORDER No.41120-41121/2014 - Dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aintained under rule 9; (ii) issuing a transfer challan containing registration number, name and address of the registered premises transferring the credit and receiving such credit, the amount of credit transferred and the particulars of such entry as mentioned in clause (i), and such recipient premises may take CENVAT credit on the basis of the transfer challan . 3. In view of insertion of Rule 10A of CCR 2004, on 31.5.2012, Unit-II transferred their SAD credit balance of ₹ 6,37,53,414/- to Unit-I under the cover of Delivery Challan (i.e. transfer challan). Show cause notice dt. 30.5.2014 was issued to both the units proposing to deny irregular transfer of cenvat credit of ₹ 6,37,53,414/- from Unit-I and to recover the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of inputs and capital goods, cenvat credit taken and utilized. The particulars of such entry was not mentioned in the delivery challan issued in terms of Rule 10A (i) (ii). However, the adjudicating authority further observed that it is a procedural requirement which has not been complied. It is further observed that the dispute mainly revolves around the timing of the transfer and incorrect procedures followed and not on the correctness of SAD credit balance lying at the transferor unit. 6. Prima facie, we find that there is no dispute on eligibility of transfer of credit under Rule 10A of the said Rules. The adjudicating authority, already observed that there is non-compliance of the procedural requirement. In any event, we find that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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