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2023 (8) TMI 994 - AT - Central ExciseTransfer of unutilized CENVAT Credit - entitlement of credit which was available in the books of accounts of one Vivin Laboratories Private Ltd., as they have taken over the plant and machinery of the said company on outright sale basis, including transfer of land - rejection of transfer of credit on grounds of lack of correlation of documents - violation of principles of natural justice - HELD THAT:- It is found that the Respondent is the successor owner of the factory of Vivin Laboratories, with its assets and liabilities (which is nil on date of transfer), due to change of ownership on account of sale - It is held that Rule 3 of CCR is not applicable in the facts of the present case, as Rule 3 applies in case of ‘removal’ of capital goods. Here there is no removal, as the capital goods remained in the same factory/premises, and there is only change of ownership. The respondent-assessee is entitled to take transfer of Cenvat Credit available in the books of the transferor – Vivin Labs, as per Rule 10 of Cenvat Credit Rules. Appeal of Revenue dismissed.
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