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2015 (1) TMI 1131 - CESTAT BANGALORECENVAT Credit - Capital goods - Transfer of unutilized credit - Held that:- it is only a case of leasing out of the inputs and capital goods and no removal has taken place and therefore provisions of Rule 3(5) are not applicable. The credit transferred by the appellant is to the balance 50% of the credit pertaining to capital goods procured by the appellant during 2009-10 and the unutilized credit can be transferred subject to utilization in the subsequent year - in the case of leasing out of the factory to another company, no liability arises to reverse CENVAT credit since there was no physical removal of such goods - Following decision of Dalmia Cements Bharat Ltd. v. CCE, Tiruchirapalli [2007 (11) TMI 211 - CESTAT, CHENNAI] - Decided in favour of assessee.
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