2015 (1) TMI 1131

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..... erred by the appellant is to the balance 50% of the credit pertaining to capital goods procured by the appellant during 2009-10 and the unutilized credit can be transferred subject to utilization in the subsequent year - in the case of leasing out of the factory to another company, no liability arises to reverse CENVAT credit since there was no physical removal of such goods - Following decision .....

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..... ing out. The appellants also submitted details of balance 50% of CENVAT credit of capital goods still unutilized by them as on the date from which the factory was leased out. In the same letter they also gave details of unutilized credit which would get transferred to M/s. Ultratech Cement Ltd. under Rule 10 of CENVAT Credit Rules, 2004. Appellants also issued an invoice for all these goods and pa .....

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..... l has taken place and therefore provisions of Rule 3(5) are not applicable. The credit transferred by the appellant is to the balance 50% of the credit pertaining to capital goods procured by the appellant during 2009-10 and the unutilized credit can be transferred subject to utilization in the subsequent year. The learned counsel relied upon the decision in the case of Dalmia Cements Bharat Ltd. .....

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