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2012 (4) TMI 511 - AT - Central ExciseMODVAT Credit - when all other requirements are satisfied, whether the appellants can be denied the benefit of Modvat credit lying unutilized in the account of the company which merged with the appellants by the orders of the Hon’ble High Court, only because of the appellants’ failure to file declaration under Rule 57H of the Central Excise Rules and adjusting the Modvat credit in the account of merged company without seeking approval from the Commissioner - Held that:- this is a case of purely a technical lapse. Had the appellants submitted the declaration, obviously, they would have been granted approval to adjust the Modvat credit available in the account of M/s. Amar Polyfab P. Ltd. Not only this, the appellants had intimated the department promptly about the merger, they obtained an amended registration certificate and they also wrote a letter on 14-10-1994 requesting that the declarations, classification lists, price declarations and other documents filed by M/s. Amar Polyfab P. Ltd. may be treated as the declarations/documents filed by M/s. Indra Polyfab P. Ltd. w.e.f. 12-10-1994. Though above noted communication is not in the form prescribed under Rule 57H but it supplies all necessary information to the department. It is undisputed that adjustment of Modvat credit by M/s. Amar Polyfab P. Ltd. was done after 14-10-1994. Therefore, we are of the view that this is a case of technical lapse for which the appellants cannot be penalized - Decided in favour of assessee.
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