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2016 (9) TMI 195 - CESTAT CHENNAI

2016 (9) TMI 195 - CESTAT CHENNAI - 2016 (337) E.L.T. 571 (Tri. - Chennai) - Transfer of unutilized credit - shifting of factory - Whether unutilized CENVAT credit lying in appellant's account prior to its shifting from Hosur to Bangalore shall entitle it to avail the same consequent upon such shifting - held that:- the dispute arises only due to interpretational error under Rule 10(1) of CENVAT Credit Rules, 2004. It is well settled that law is to be interpreted in a manner to make that workabl .....

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r statutory reasons. - Decided in favour of appellant - Appeal No. E/40972/2014 - Final Order No. 40733 / 2016 - Dated:- 4-5-2016 - Shri D.N. Panda, Judicial Member. Shri Raghavan Ramabhadran, Advocate for the Appellant Shri K. Veerabhadra Reddy, JC (AR) for the Respondent ORDER: The only grievance of the appellant is whether unutilized CENVAT credit lying in its account prior to its shifting from Hosur to Bangalore shall entitle it to avail the same consequent upon such shifting. 2. Revenue den .....

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y. Therefore, post shifting does not dis-entitle the appellant to avail the past credit unavailed under the law. Plain interpretation of Rule 10(1) of the CENVAT Credit Rules, 2004 in the light of the spirit of the judgment of the Hon ble High Court of Madras in the cases of Commissioner of Central Excise, Pondicherry Vs. CESTAT 2008 (230) ELT 209 (Mad.) and Commissioner of Central Excise, Pondicherry Vs. CESTAT 2009 (240) ELT 367 (Mad.) does not disentitle the appellant to the unutilized credit .....

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transfer of the factory to a joint venture with the specific provision for transfer of liabilities of such factory, then, the manufacturer shall be allowed to transfer the CENVAT credit lying unutilized in his accounts to such transferred, sold, merged, leased or amalgamated factory." 6.1 Bare perusal of sub-rule (1) of Rule 10 above throws light that while legislature contemplated that sale, merger, amalgamation, lease or transfer of a factory entitles the sold, merged, leased or amalgama .....

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