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2014 (12) TMI 584 - AT - Central ExciseDenial of transfer of credit - Conversion of DTA unit into 100% EOU - Held that:- There is no bar for transfer of credit available in the books of accounts on the date of conversion of a unit in DTA into 100% EOU under Rule 10 of the Cenvat Credit Rules, 2004. In the absence of any specific prohibition denying the transfer of credit, the appellants are rightly entitled to transfer of the same. The decision of the Hon'ble Bombay High Court in the case of Sandoz Pvt. Ltd. [2013 (10) TMI 145 - BOMBAY HIGH COURT], and of the Tribunal decision in the case of Watson Pharma Pvt. Ltd. (2014 (11) TMI 71 - CESTAT MUMBAI) confirm the above view. Accordingly, the appellant is entitled to transfer of credit lying in the books of accounts at the time of conversion from DTA to 100% EOU and therefore the impugned demands are not sustainable - Decided in favour of assessee.
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