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2015 (3) TMI 1186 - AT - Service TaxInput service distributor (ISD) - The basic principle of Cenvat credit being to avoid cascading effect, genuine credit earned by one unit is not disallowed for set off against liability of other in absence of any prohibition thereto by law. This can be appreciated from the ratio laid down by Hon'ble High Court of Karnataka in ECOF Industries Pvt. Ltd. However, a word of caution may be stated that the manner of distribution of credit should not be contrary to Rule 7 of the Cenvat Credit Rules, 2004.
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