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2011 (4) TMI 413 - CESTAT, NEW DELHICenvat credit - Manufacture of P.U. Foam Sheets/regular blocks - shortage of cenvated inputs - Verification of the stock of inputs had been done in presence of Asstt. Manager of the appellant-company - Asstt. Manager at that time was fully satisfied with the manner of stock taking and had not raised any objection and at that time, he could not give any explanation about the shortage, other than saying that the shortage may be due to short receipt of the raw materials over a period of time and also due to shrinkage - Held that:- the appellant's plea at the appellate stage that missing quantity of Irregular P.U. Foam Blocks was lying in the manufacturing area but was not taken into account, cannot be accepted - Thus,that Cenvat credit demand of Rs. 84,201.85 in respect of shortage of cenvated Irregular P.U. Foam Blocks had been rightly upheld. Transfer of Cenvat Credit - Rule 8 of the Cenvat Credit Rules, 2002 - The shareholders and directors of co., who have changed - the owner of the factory is the appellant-company and it is only the shares of company which have been purchased by different persons - - The control of appellant-company has changed but the appellant-company continues to be the owner of the factory - Rule 8 is attracted only when the factory shifts to another site, or its ownership is transferred on account of sale to another per son or the ownership is changed on account of merger, amalgamation, lease or transfer of the factory to a joint venture, which is not the case here - Held that the Cenvat credit demand of Rs. 4,37,697.36 is not sustainable and the same is set aside - Decided in favour of assessee.
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