https://www.taxtmi.com/caselaws?id=89534 Modvat credit was treated as continuing where a factory's operations remained tied to the pre-takeover period and the inputs and finished goods were unchanged. The governing point was that eligibility depended on receipt and utilisation of inputs in the factory, so a mere change in ownership or management did not by itself defeat credit already determined. On that basis, denial of Modvat credit was not warranted in the takeover situation, and the reference application was rejected because no referable question of law arose. en-us Thu, 05 Feb 1998 00:00:00 +0530 Tue, 27 Sep 2011 17:34:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89534 Modvat credit was treated as continuing where a factory's operations remained tied to the pre-takeover period and the inputs and finished goods were unchanged. The governing point was that eligibility depended on receipt and utilisation of inputs in the factory, so a mere change in ownership or management did not by itself defeat credit already determined. On that basis, denial of Modvat credit was not warranted in the takeover situation, and the reference application was rejected because no referable question of law arose. Case-Laws Central Excise Thu, 05 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89534