2014 (10) TMI 52

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... R. Gurunathan, Addl. Commissioner (AR), for the Respondent. ORDER BASF India Ltd. (BASFI) according to the appellant was an associated enterprise of the applicant. Along with other enterprises, BASFI also got amalgamated with the appellants as per the order of the Hon'ble High Court of Bombay dated 24-1-2011. This fact was intimated to the department in October, 2011. However on 4-2-2011 pr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... since the issue involved is not complicated and can be decided. Both sides agreed and accordingly the requirement of pre-deposit is waived and appeal is taken up for final decision. 3. The learned Counsel submitted that even though Commissioner allowed a proportionate credit, he did not specify how such credit should be allowed. The appellants have calculated the credit denied on the turn....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....at Rule 10 of Cenvat Credit Rules, 2004 provided that where the entire assets are taken over by another company and transferred, the credit available in the books of account also get transferred. Therefore the entire exercise undertaken by the Revenue became infructuous because both the companies merged and by the time proceedings were initiated technically from the date of order of the High Court....