2014 (3) TMI 87

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....unit to Exide on 16.02.1998/29.04.1998 with a condition that any liability towards excise duties shall be borne by the appellant. The appellant filed an application for transfer of credit lying in their CENVAT credit account attributable to inputs and capital goods, unutilized by them, to Exide. The said credit was denied by the adjudicating authority and the same was confirmed by the first appellate authority. Aggrieved by the said order the appellant is before me. 3. The learned Counsel for the appellant submits that the Rule 57F (20) and the Rule 57S(5) of the Central Excise Rules, 1944, deals with the situation of transfer of CENVAT credit lying in their CENVAT credit account and as per the said Rules, on being change of ownership, t....

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....ts has been denied for not following the conditions of Rule 57S(5) and 57F(20) of the Central Excise Rules, 1944. For better appreciation the Rule 57F(20) are reproduced herein as under:-     "(20) On an application made by a manufacturer of the final products, the Commissioner may, subject to such conditions and limitation as he may impose, permit a manufacturer having credit in his account in Form RG 23A maintained under Rule 57G and lying unutilized on account of shifting of the factory belonging to the manufacturer, to another site, or     On account of change in ownership, or     Change in the site of a factory resulting from sale, merger, amalgamation or transfer to a joint venture....