2017 (1) TMI 357

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....nt Commissioner (AR), for the Respondent. ORDER The appellants, M/s. Jayaswal Neco Industries Ltd., were operating two different factories prior to 29-8-2007, when both the factories were merged into a single factory. The credit lying unutilized in the books of account of both the units was merged in the new unit and permission to transfer was granted on 20-12-2007. However, before merger on....

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....ties and aggrieved by the said order, the appellants are in appeal before the Tribunal. 2. Learned Counsel for the appellant argued that there is no allegation of non-receipt of goods. The only allegation in the show cause notice is that the appellant for taking the credit of the amount reversed in the PLA against the objection raised in the audit para. He argued that the only grounds on w....

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....d AR relied on the impugned order. 4. I have gone through the rival submissions. I find that the only ground raised in the Audit objection for denial of credit was that the credit taken by one of the sister unit was on the strength of the invoices of the other sister unit. At the material time when the two units were different the objection could have been of any merit, but after the merge....