2014 (7) TMI 192

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....the impugned order wherein the learned Commissioner (Appeals) allowed the transfer of Rs. 40,14,221/- of CENVAT credit lying in balance on account of dissolution of parent firm and taken over by the respondent. 2. Brief facts of the case are that one M/s Menezes Pharmaceuticals was a partnership firm. The partnership stood dissolved by a Deed dated 10.02.2000. The assets and the liabilities of ....

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....l as the appeal pertains to the year 2004. Heard learned A.R. and perused the records. 4. The contention of the learned A.R. is that on the date of transfer as there is no stock of material/packing material was available therefore credit cannot be transferred and the credit was available in the books of account on account of under-valuation of the goods cleared by the dissolved firm. Therefore,....