2005 (3) TMI 327

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..... are availing the facility of Cenvat credit on inputs. On 30-3-2000, they took over the gelatin capsule factory of M/s. American Remedies Limited (ARL, for short) through amalgamation of the two companies. At the time of the take-over, input duty credit to the extent of Rs. 79,585/- was lying, unutilised, in the Cenvat account of ARL, though the input had been utilised by them earlier. The respond .....

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..... Counsel for the respondents counters this argument of the DR and submits that such a condition cannot be read into sub-rule 2 of Rule 57AF. Counsel relies on the Tribunal's decision on Aar Aay Products Pvt. Ltd. v. CCE, New Delhi reported in 2003 (157) E.L.T. 40 (Tri.-Del.), wherein, on a similar set of facts, transfer of input duty credit from the Modvat account of the transferor to that of the .....

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