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2011 (8) TMI 666 - KARNATAKA HIGH COURTTransfer of Cenvat Credit - Amalgamation - Whether prior permission is required to transfer the credit moreover where exemption is claimed in respect of finished goods - Lapse of cenvat credit - Held That:-A bare perusal of the Notification no. 6/2006 makes it very clear that the said exemption has no reference to the value of the quantity of the goods in a financial year. It is an exemption from payment of duty in respect of the goods which are set out in the Table to the said Notification. Sub-Rule (1) of Rule 11 has no application to the Exemption Notification, in the instant case, and therefore the appellate Commissioner as well as the assessing authority were totally in error in denying the benefit of transfer of unutilized Cenvat credit to the assessee. It is that error of law which is corrected by the Tribunal by placing proper interpretation on Rule 10, Rule 11 and the Exemption Notification.
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