2011 (6) TMI 538

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.... :- 2.1 The appellants, M/s. Technocraft Industries (India) Ltd., have two units, Unit-1 and Unit-2, manufacturing textile products and they were working as 100% EOUs. Unit-1 exited out of the EOU scheme on 29-9-2008 and the unit was de-bonded and converted into a DTA unit. This unit had an accumulated unutilized Cenvat credit of Rs. 93,64,988/-, in their books of accounts at the time of de-bonding. Similarly, Unit-2 exited out of the EOU scheme and de-bonded their EOU on 29-1-2009 and became a DTA unit thereafter and they had an accumulated unutilized Cenvat credit of Rs. 1,33,38,504/- in their books of accounts at the time of de-bonding. Both Units 1 & 2 wanted to utilize the accumulated Cenvat credit for payment of duty on cleara....

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....are in appeal against the said order. 3. The ld. Counsel for the appellant submits that the adjudicating authority has denied them transfer of credit for the reason that Rule 10 of Cenvat Credit Rules, 2004, which deals with the transfer of Cenvat credit, deals with only specified situations involving shifting of factory to another site or transfer on account of change in ownership or on account of sale, merger, amalgamation, lease or transfer of factory to a joint venture. Since the situation in the present case is different, that is, there is neither any change in ownership nor any transfer of business, the provisions of Rule 10 will not apply. 3.1 The interpretation of the Rule by the adjudicating authority is totally inc....