1998 (2) TMI 302

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.... Shri M.S. Krishnan, Advocate, for the Respondent. [Order per : T.P. Nambiar, Member (J)].-  The following questions are framed by the department for reference to the High Court :- (i)  Whether, the Tribunal is legal and correct in allowing the benefit of transfer of credit from one registered factory to another. In the absence of any legal provision prior to Notification....

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.... no bar for transfer of credit from individual owned unit to partnership concern and further to a Limited Company/Public Company. That would infringe legal provisions, as Rule 57G mentions the term "manufacturer". Hence, credit availment is to be linked to the manufacturer-factory and not factory alone. Viewed against this legal requirement, whether the order of Tribunal would be legally sustainab....

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....ny which came into existence merely takes the credit on the inputs as well as on the finished products which are already declared by the previous company their ownership is not very important for taking the Modvat benefit. He pointed out that the provisions are very clear and it cannot be said that a point of law has arisen. 5. We have considered the submissions. We have clearly held in th....