Cenvat Credit

This query is : Resolved

MIHIR GANDHI (Querist)
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10 October 2009 The company has purchased the machinery under EPCG scheme in Baddi (Having excise exemption)during previous year. Since the company was likely not to complete the export obligation, the company paid the saved custom duty and excise duty on the said machinery.
Now the company decided to sale the said machinery to some other party registered under Excise.
Now my question is whether the company can pass on the excise credit paid on the said machinery to the buyer and can the buyer can availed the cenvat credit?
Its Urgent.
Provide judicial pronouncement backing your opinion.
Thanking You,
Mihir Gandhi