TMI Blog2012 (3) TMI 357X X X X Extracts X X X X X X X X Extracts X X X X ..... he 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 facto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s claimed the transfer of the same from their previous company under the name and style of M/s. TDT Copper Ltd., in terms of the provisions of Rule 10 of Cenvat Credit Rules. For better appreciation, the reasoning adopted by the Assistant Commissioner is reproduced below:- (1) If a manufacturer of the final products shifts his factory to another site or the factory is transferred on account of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stant Commissioner of Central Excise. From the Rule 10(1) (3) of Cenvat Credit Rules, 2004, it is clear that credit can be transferred in this situation if stock of inputs as such or in process, or the capital goods is also transferred along with the factory. As there is no stock of inputs, I disallow the credit of Rs. 1,12,75,180.53 involved on inputs lying as unutilized in the CENVAT account, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances, the decision of Assistant Commissioner can be faulted with. The case laws relied upon in the appeal do not find their application in the situation like the present one. The Assistant Commissioner has rightly rejected the appeal. 3. We find that the Commissioner (Appeals) has rejected the appeal on altogether different grounds i.e. one adopted by the Asstt. Commissioner. In any c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and was not producing, but were filing return showing the availability of the credit. It is also not the Revenue s case that the said credit was not lying in the books of M/s. TDT Copper. 4. As such, we find that the applicant has a good prima facie, case in its favour so as to dispense with the condition of pre-deposit of duty, we accordingly, allow the stay petition. (Pronounced in the open ..... X X X X Extracts X X X X X X X X Extracts X X X X
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