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2012 (3) TMI 357 - AT - Central ExciseWaiver of pre deposit - Denial of credit - Held that:- Commissioner (Appeals) has rejected the appeal on altogether different grounds i.e. one adopted by the Asstt. Commissioner. In any case, we find that the original adjudicating authority has rejected the transfer of the credit on the sole ground that there were no inputs lying in stock and only credit was available. Going through the provisions of Rule 10 of Cenvat Credit Rules as reproduced above, we find that the presence of inputs in the factory at the time of transfer of credit is not the criteria for transfer of such credit. Rule is to the effect that whatever inputs are lying in the factory at the time of transfer of credit, the same ALSO must be transferred along with credit. If no inputs are lying, the same cannot be transferred and cannot be adopted as a reason for denial of transferred credit. As regards the reasoning adopted by the Commissioner (Appeals), we find that though the appellants factory was closed and was not producing, but were filing return showing the availability of the credit - applicant has a good prima facie, case in its favour - Decided in favour of assessee.
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