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TMI Blog2015 (6) TMI 989X X X X Extracts X X X X X X X X Extracts X X X X ..... istant Commissioner of Central Excise In the instant case all the stock of finished, semi-finished goods including plants and machinery was destroyed in the fire incidence and hence question of stock transfer does not arise. Further find that the appellant had intimated to the department regarding transfer of Cenvat credit time and again and had requested for regularization of the same as per the provisions of Rule 10 of the Cenvat Credit Rules, 2004. - 69/CE/ALLD/2015 - - - Dated:- 4-6-2015 - Shri V. Valte, Commissioner ORDER These proceedings were initiated after filing of appeal No. 149-CE/APPL/Knp/2013 by M/s. Tirupati Ink Ltd., 188-B, Dada Nagar, Kanpur (hereinafter referred to as the appellant) having Central Excise Reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by them should not be recovered under Rule 14 of the Cenvat Credit Rules, 2004 read with Section 11A of Central Excise Act, 1944 along with interest under Section 11AA of the Act ibid and why penalty should not be imposed under Rule 15 of Cenvat Credit Rules, 2004 and under Rule 25 of Central Excise Rules, 2002 read with Section 11AC of the Act ibid. The said show cause was decided by the ld. adjudicating authority by disallowing the Cenvat credit of ₹ 5,50,705/- under Rule 14 of the Cenvat Credit Rules, 2004 read with the Section 11A of Central Excise Act, 1944. The interest was also confirmed under Rule 14 of the Cenvat Credit Rules, 2004 read with Section 11AA of the Act. A penalty of equal amount was also imposed under Rule 15 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to such transferred, sold, merged, leased or amalgamated business. (3) The transfer of the Cenvat credit under sub-rules (1) and (2) shall be allowed only if the stock of inputs as such or in process, or the capital goods is also transferred along with the factory or business premises to the new site or ownership and the inputs, or capital goods, on which credit has been availed of are duly accounted for to the satisfaction of the Deputy Commissioner of Central Excise or, as the case may be, the Assistant Commissioner of Central Excise. 6. I find that sub-rules (1) and (2) of Rule 10 of Cenvat Credit Rules, 2004 don t need any emphasis, as it is clear as crystal. It is observed from the records that a fire was broke out in the facto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds and finished goods were destroyed in a fire taken place at the factory premises at A-1/33, Dada Nagar, Kanpur, a letter dated Nil submitted by M/s. Tirupati Inks Ltd., A-1/33, Dada Nagar, Kanpur in which incidence of fire occurred on 21-3-2011 was intimated. 8. The Rule 10(3) of the Cenvat Credit Rules, 2004 stipulates that : The transfer of the Cenvat credit under sub-rules (1) and (2) shall be allowed only if the stock of inputs as such or in process, or the capital goods is also transferred along with the factory or business premises to the new site or ownership and the inputs, or capital goods, on which credit has been availed of are duly accounted for to the satisfaction of the Deputy Commissioner of Central Excise or, as the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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