Effective date in amalgamation order governs deemed excise credit entitlement despite later filing of certified copy.

Where an amalgamation order specifies an effective date separate from the date of approval or filing with the Registrar, that stated effective date governs the continuation or cessation of statutory credit benefits under the relevant excise notifications. The Tribunal treated the transferor unit as ceasing only on the effective date in the amalgamation arrangement, not on the later filing date, and upheld the assessee's entitlement to deemed credit. It also noted that no improper additional benefit was being claimed, and the Department's objection would in any event have left the assessee entitled to higher actual credit.

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Issues: Whether the amalgamation of the units became effective from the date stated in the High Court order or only from the date of filing of the certified copy with the Registrar of Companies, and consequently whether the assessee was entitled to retain the deemed credit availed under the applicable excise notifications.

Analysis: The amalgamation order expressly provided an effective date different from the later date of approval and filing. The governing notifications conferred the benefit of deemed credit until the effective date, and the Tribunal treated the cessation of the transferor entity as occurring on that effective date rather than on the date of filing or approval. The record also showed that no additional benefit was being improperly claimed by the assessee, and the Department's challenge would, in any event, place the assessee in a position to claim higher actual credit.

Conclusion: The effective date for the amalgamation was the date specified in the amalgamation arrangement, not the later date of filing the certified copy, and the assessee's entitlement to deemed credit was upheld.

Ratio Decidendi: Where an amalgamation order specifies an effective date distinct from the date of approval or filing, the effective date governs the continuance or cessation of statutory credit benefits under the relevant excise notifications.

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