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2017 (3) TMI 230 - AT - Central ExciseCenvat credit - Penalty - Whether in the case of merger of two units the PLA of one unit can be transferred to the new unit that has came into existence - Held that: - The amount lying in PLA can be considered as the cash held by the appellant company which definitely falls under the assets of the company. Viewing in this angle, when the assets of one unit merges with the other, the PLA necessarily has to follow - Appeal allowed - decided in favor of the assessee.
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