https://www.taxtmi.com/caselaws?id=2259 Modvat credit lying in the transferor company's account may be transferred to the transferee after takeover where the manufacturing activity and inputs remain unchanged, because entitlement continues on the same factual matrix. If the assessee seeks permission in advance, responds to departmental queries, and the department neither grants nor refuses permission within a reasonable time, the transfer cannot be denied on a purely technical objection. On those facts, the transfer was treated as proper and the associated demand and penalty did not survive. en-us Thu, 01 Sep 2005 00:00:00 +0530 Tue, 15 Apr 2008 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2259 Modvat credit lying in the transferor company's account may be transferred to the transferee after takeover where the manufacturing activity and inputs remain unchanged, because entitlement continues on the same factual matrix. If the assessee seeks permission in advance, responds to departmental queries, and the department neither grants nor refuses permission within a reasonable time, the transfer cannot be denied on a purely technical objection. On those facts, the transfer was treated as proper and the associated demand and penalty did not survive. Case-Laws Central Excise Thu, 01 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2259