2015 (10) TMI 1915

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..... redit on the value of closing stock of raw materials and semi-finished goods - Held that:- prima facie, the reversal of the Cenvat credit on the value of closing stock of raw materials and semi-finished goods is not supported by Rule 10 of Cenvat Credit Rules. - Applicant made out a prima facie case for waiver of pre-deposit of balance amount of duty along with interest and penalty. Accordingly, p .....

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..... ds. There is no dispute that on the date of transfer of the business, there was nil balance only in the Cenvat account. Rule 10 of Cenvat Credit Rules, provides that if a manufacturer of final products shifts his factory or business, then the manufacturer shall be allowed to transfer the Cenvat credit lying unutilized in his accounts to such transferred, sold, merged, leased or amalgamated facto .....

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