TMI Blog2008 (7) TMI 383X X X X Extracts X X X X X X X X Extracts X X X X ..... atisfied about the genuineness of the same. In those circumstances of the case, we are of the view that the finding arrived at by the Tribunal is in accordance with the requirement of the statute and the interpretation of the provision by the Department that there must be a transfer of input even if it is not available is extraneous to the statutory provision – transfer of credit upheld. - 2116 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hey were availing CENVAT credit of duty paid on inputs and capital goods. The assessee vide letter dated 17-6-2005 applied for transfer of unutilized CENVAT credit lying in the books of accounts as they were shifting their factory from Pondicherry to their own unit in Gujarat. The CENVAT credit lying unutilized at the time of transfer is as follows: RG 23A Part II Basic Excise Dut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r is correct in allowing the credit contrary to the provisions of Rule 10 of Cenvat Credit Rules, 2004?" 3. We heard the learned counsel appearing for the appellant and perused the order of the lower authorities and the Tribunal. 4. Rule 10 of the Cenvat Credit Rules, 2004 reads as follows:- "Transfer of CENVAT credit :- (1) If a manufacturer of the final products shifts his factory to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts to such transferred, sold, merged, leased or amalgamated business. (3) The transfer of the CENVAT credit under sub-rules (1) and (2) shall be allowed only if the stock of inputs as such or in process, or the capital goods is also transferred along with the factory or business premises to the new site or ownership and the inputs or capital goods, on which credit has been availed of are d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se, the same has been verified and the Deputy Commissioner of Central Excise satisfied about the genuineness of the same. In those circumstances of the case, we are of the view that the finding arrived at by the Tribunal is in accordance with the requirement of the statute and the interpretation of the provision by the Department that there must be a transfer of input even if it is not available i ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
