Court Rules Sub-Rule (1) of Rule 11 Inapplicable to Exemption Notification; Cenvat Credit Transfer Allowed Post-Amalgamation.

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....Transfer of Cenvat Credit - Amalgamation - Sub-Rule (1) of Rule 11 has no application to the Exemption Notification, in the instant case, and therefore the appellate Commissioner as well as the assessing authority were totally in error in denying the benefit of transfer of unutilized Cenvat credit to the assessee..... - HC....