1992 (5) TMI 120

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....t factory at Bangalore as on 19-3-1987 after the same was shifted and another factory was started at Nanjangud. 2. Shri Sampath, the learned counsel for the appellants submitted that the appellants had their factory at Bangalore, which he wanted to shift to Nanjangud, and accordingly sought the permission of the authorities on 19-3-1987 and again on 8-2-1988 applied to the authorities for transfer of the credit that stood in balance at the Bangalore unit in the RG. 23 A/c. to Nanjangud, where the factory was shifted. Permission for shifting of the factory was accorded and the authorities also checked the raw materials and plant and machinery, but the authorities did not allow the transfer of the credit from the RG. 23 A/c. of Bangalore f....

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....tting such transfer of credit from one factory to another factory whenever there is shifting. This cannot be construed to be a part of the procedural taw to be made retroactive. It would be seen that accumulation of credit is actually utilised in the discharge of the assessee's duty liability and is almost akin to payment in cash. When the factory itself is shifted to some other place, a statutory authority functioning within the four corners of a statute, would not have jurisdiction to accord any permission for transfer of such unutilised credit which existed in the earlier factory unless a specific power is given under the statute or a source of such power is traceable in any provision of the statute. Transfer of credit deals with the sub....