https://www.taxtmi.com/caselaws?id=54331 Unutilised Cenvat credit standing in a transferor's account on amalgamation could be transferred to the transferee even though the inputs had already been consumed and were not physically in stock. The Tribunal read Rule 57AF of the Central Excise Rules, 1944 as permitting transfer of only the unutilised credit in these facts and rejected the Revenue's insistence on physical transfer of the inputs themselves. Treating Rule 57AF as pari materia with the earlier Rule 57F(21), it followed its prior ruling that such credit transfer was allowable despite prior consumption of the inputs. The Commissioner's permission to transfer the credit was upheld and the Revenue's appeal failed. en-us Fri, 04 Mar 2005 00:00:00 +0530 Tue, 19 Oct 2010 13:50:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54331 Unutilised Cenvat credit standing in a transferor's account on amalgamation could be transferred to the transferee even though the inputs had already been consumed and were not physically in stock. The Tribunal read Rule 57AF of the Central Excise Rules, 1944 as permitting transfer of only the unutilised credit in these facts and rejected the Revenue's insistence on physical transfer of the inputs themselves. Treating Rule 57AF as pari materia with the earlier Rule 57F(21), it followed its prior ruling that such credit transfer was allowable despite prior consumption of the inputs. The Commissioner's permission to transfer the credit was upheld and the Revenue's appeal failed. Case-Laws Central Excise Fri, 04 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54331