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2017 (9) TMI 87 - CESTAT NEW DELHICENVAT credit - royalty - Revenue entertained a view that in terms of the High Court order the two entities become one and as such there is no warrant for payment of royalty by the appellant to the brand owner and the invoice for such payment become “infractuous” for the purose of availing that credit - Held that: - The financial transaction between two legal entities as existing during the relevant time were valid and legal and the same does not become “infractuous” simply because these legal entities were amalgamated later, though effective date for record has been mentioned as 01.04.2006 - credit allowed - appeal allowed - decided in favor of appellant.
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