https://www.taxtmi.com/caselaws?id=1895 Transfer of an entire factory, together with stock, inputs, capital goods, machinery and related assets, was treated as a change of ownership rather than a removal of goods from the factory. On those facts, the Modvat credit already availed on inputs and capital goods was not required to be reversed, because the governing rules permitted transfer of unutilised credit where the stock of inputs in hand or in process was also transferred with the unit. The reasoning treated the provisions for capital goods as pari materia with those for inputs, and the cited precedent supporting transfer of credit on sale of the whole undertaking was applied. en-us Tue, 24 Apr 2007 00:00:00 +0530 Tue, 15 Apr 2008 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1895 Transfer of an entire factory, together with stock, inputs, capital goods, machinery and related assets, was treated as a change of ownership rather than a removal of goods from the factory. On those facts, the Modvat credit already availed on inputs and capital goods was not required to be reversed, because the governing rules permitted transfer of unutilised credit where the stock of inputs in hand or in process was also transferred with the unit. The reasoning treated the provisions for capital goods as pari materia with those for inputs, and the cited precedent supporting transfer of credit on sale of the whole undertaking was applied. Case-Laws Central Excise Tue, 24 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1895