2012 (3) TMI 357

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....lant. Shri B. Bhushan, DR, for the Respondent. ORDER Credit of Rs. 1,12,75,181/- stands denied to the applicant, who has claimed the transfer of the same from their previous company under the name and style of M/s. TDT Copper Ltd., in terms of the provisions of Rule 10 of Cenvat Credit Rules. For better appreciation, the reasoning adopted by the Assistant Commissioner is reproduced below:....

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....hich credit has been availed of are duly accounted for to the satisfaction of the Deputy Commissioner of Central Excise or, as the case may be, the Assistant Commissioner of Central Excise. From the Rule 10(1) (3) of Cenvat Credit Rules, 2004, it is clear that credit can be transferred in this situation if stock of inputs as such or in process, or the capital goods is also transferred along wit....

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....sent case, the earlier unit was closed 4/5 years back. Infact, the appellant has already applied for the surrender of registration on their own volition. In the circumstances, the decision of Assistant Commissioner can be faulted with. The case laws relied upon in the appeal do not find their application in the situation like the present one. The Assistant Commissioner has rightly rejected the app....