https://www.taxtmi.com/caselaws?id=249155 CENVAT credit standing in the statutory records of a dissolved partnership firm was held transferable to the successor entity that took over the firm's assets and liabilities, because Rule 57F(21) of the Central Excise Rules, 1944 did not bar such transfer. The Tribunal also rejected the objection that alleged under-valuation of goods made the credit non-transferable, noting that no legal provision was shown to support that restriction. The stated principle is that, absent an express statutory prohibition, credit carried in the records of the old unit may be transferred to the successor. en-us Wed, 02 Apr 2014 00:00:00 +0530 Sat, 05 Jul 2014 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249155 CENVAT credit standing in the statutory records of a dissolved partnership firm was held transferable to the successor entity that took over the firm's assets and liabilities, because Rule 57F(21) of the Central Excise Rules, 1944 did not bar such transfer. The Tribunal also rejected the objection that alleged under-valuation of goods made the credit non-transferable, noting that no legal provision was shown to support that restriction. The stated principle is that, absent an express statutory prohibition, credit carried in the records of the old unit may be transferred to the successor. Case-Laws Central Excise Wed, 02 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249155