9911796707
TMI Blog2016 (9) TMI 195X X X X Extracts X X X X X X X X Extracts X X X X ..... only due to interpretational error under Rule 10(1) of CENVAT Credit Rules, 2004. It is well settled that law is to be interpreted in a manner to make that workable without creating any absurdity or ambiguity. Therefore a shifted unit if dealt discriminately under Rule 10(1) of CENVAT credit Rules, 2004, use of the word shifts in the beginning part of the said sub-rule shall be otios. Therefore, f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dit on the ground that Rule 10 of the CENVAT Credit Rules, 2004 does not permit a shifting unit which closes its business to claim unutilized CENVAT credit consequent upon shifting. According to Revenue, credit can be carried forward by an unit only in the event of amalgamation or merger. 3. Appellant on the other hand says that there is no embargo in law under Rule 10(1) of the CENVAT Credit R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duced for appreciation and resolution of the controversy: RULE 10. Transfer of CENVAT credit. - (1) If a manufacturer of the final products shifts his factory to another site or the factory is transferred on account of change in ownership or on account of sale, merger, amalgamation, lease or transfer of the factory to a joint venture with the specific provision for transfer of liabilities o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lar status to the shifted factory as that has been granted to sold, merged, leased or amalgamated cases. However absence of the word shifted in the said sub-rule appears to be an inadvertence which does not lead to Construe the provision therein to be denial proposition of law to grant the benefit of unutilized credit to a shifted factory. When the legislature has used the word shifts in the first ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
