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2013 (11) TMI 284 - AT - Central ExciseTransfer of cenvat credit – Amalgamation of Companies – Effective date of amalgamation - Held that:- In the order itself it has been recorded that the amalgamation of the appellant with M/s Karamchand Appliances Pvt. Ltd. had been approved by Hon’ble Delhi High Court w.e.f. 01/6/05 – Relying upon CST, Delhi - I vs. ITC Hotels Ltd. [2011 (9) TMI 837 - CESTAT, NEWDELHI] - the appellant company has been amalgamated with M/s Karamchand Appliances Pvt. Ltd. only from 01/6/05 and, as such, prior to 01/6/05 there was no question of transfer of any Cenvat credit balance lying in the Cenvat credit account of M/s Karamchand Appliances Pvt. Ltd. to the appellant Waiver of Pre-deposit – Held that:- The Cenvat credit available in the Cenvat credit account of M/s Karamchand Appliances Pvt. Ltd. as on 12/5/05 has obviously been utilised by M/s Karamchand Appliances only during May 2005 and, as on 01/6/05 there was no Cenvat credit balance - the department’s case against the appellant is not sustainable - The requirement of pre-deposit of the Cenvat credit demand, interest and penalty against the appellant company waived for hearing of the appeal and recovery stayed till the disposal of the appeal – stay granted.
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