TMI Blog2017 (7) TMI 439X X X X Extracts X X X X X X X X Extracts X X X X ..... is 01.04.1991. However, the scheme of amalgamation was approved by the Hon’ble High Court vide judgment dated 20.02.1992 only. On receiving the information appellants submitted the same to the department. However, the department has issued the SCN only on 27.07.1993 by invoking the extended period - Apart from alleging that the appellant is not eligible for SSI exemption after amalgamation of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 175/86 dated 01.03.1986 for the period 1991-1992. But after some period M/s. Cutfast Bonded Abrasives amalgamated with the M/s. Cutfast Abrasives Tool Ltd. The amalgamation was approved by the Hon ble Madras High Court with effect from 01.04.1991 and the same was informed to the Department on 01.04.1991. The department was of the view that as the amalgamation had been ordered by the Hon ble High C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceeded the threshold limit of SSI benefit and the demand is raised only because M/s. Cutfast Abrasives Ltd. merged with M/s. Cutfast Bonded Abrasives Limited. He submitted that the appellant had disclosed the entire assets and liabilities before the Hon ble High Court for making an application for amalgamation. These facts were brought to the knowledge of the department and thereafter the appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Textiles Ltd. - 2014 (308) ELT 453 (Mad.) . He submitted that the Hon ble High Court had occasion to analyze the issue whether SSI exemption granted to the respondent therein can be extended till the date of judgment of the Hon ble High Court when the order of amalgamation has been passed. He therefore pleaded that the demand has been rightly upheld by the Commissioner (Appeals). 4. We have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... department. However, the department has issued the SCN only on 27.07.1993 by invoking the extended period. Apart from alleging that the appellant is not eligible for SSI exemption after amalgamation of the two companies, there is no allegation of suppression of facts or mis-declaration. We therefore find substance in the arguments put forward by the ld. Counsel for the appellants that the demand i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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