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of <h1>Appellate Tribunal allows credit reversal on capital goods clearance.</h1> <h3>THE SUPREME INDUSTRIES LTD. Versus COMMISSIONER OF CENTRAL EXCISE & SERVICE TAX (LTU), MUMBAI</h3> THE SUPREME INDUSTRIES LTD. Versus COMMISSIONER OF CENTRAL EXCISE & SERVICE TAX (LTU), MUMBAI - TMI The Appellate Tribunal CESTAT MUMBAI ruled in favor of the appellant, setting aside the demand for reversal of credit on capital goods. The decision was based on previous judgments affirming that credit is allowed on reversal of transaction value upon clearance of capital goods after use. The appeal was allowed with consequential relief, and the stay application was disposed of.
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