TaxTMI 
TaxTMI 
2003 (5) TMI 404
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....der (Oral)]. - This appeal arises out of and is directed against the impugned order dtd. 9-5-2000 passed by the Commissioner of Central Excise (Appeals), Hyderabad. The issue relates to Modvat credit. The Assistant Commissioner vide his order, ordered reversal of the credit taken by the appellants for Rs. 5,82,950/- under Rule 57U of Central Excise Rules, 1944. He also imposed penalty of Rs. 15,....
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....Shri T. Ramesh appearing for the appellants submitted that there was only a mere change in the name of the Company. The name of M/s. Prudential Pharmaceuticals Ltd. was incorporated in the Registration Certificate in place of M/s. Pharmasia Drugs & Chemicals Ltd. Originally it was Pharmasia Drugs and Chemicals Ltd. and name of the Company has been changed into M/s. Prudential Pharmaceuticals Ltd. ....
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.... that fresh declaration was not necessary when there is only change in the control over the unit consequent on amalgamation, and in the circumstances, even if a declaration by the new unit is called for, it can only be construed to be a technical requirement and not a substantive violation of Rule 57G, of the Central Excise Rules, 1944. He said that he stands on a better footing in the instant cas....