2003 (3) TMI 252

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....f duty of Rs. 1,06,122.55 demanded on the ground that the assessee was not entitled to transfer the balance lying in its modvat accounts consequence upon shifting of its factory from its existing location at Bhavnagar and relocation at a village 30 kilometres away. 2. The credit has been denied on the ground that sub-rule (4) of Rule 57S and sub-rule (2) of Rule 57N permit transfer of Modvat cr....

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....a result of sale, merger etc. A change may take place in the ownership of a factory as a result of merger or amalgamation etc. It is not possible prima facie to visualise a change in the site of a factory solely as a result of sale, merger etc. of the ownership of the factory. It appears that the intention behind these rules was to permit the credit in two sets of cases - one where there was a cha....