https://www.taxtmi.com/caselaws?id=77697 The case focused on the interpretation of Rule 3(5) of the Cenvat Credit Rules, 2004 regarding the reversal of credit on the removal of cenvated capital goods. The dispute arose from the sale of burnt machinery post a fire accident, with the Department arguing for credit reversal while the Respondent claimed the machinery no longer qualified as capital goods. The Tribunal ruled in favor of the Respondent, determining that the machinery was sold as scrap and not as capital goods, affirming the duty payment based on the transaction value. The Tribunal dismissed the Revenue's appeal, upholding the Commissioner (Appeals)'s decision. en-us Tue, 16 Feb 2010 00:00:00 +0530 Tue, 26 Oct 2010 00:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77697 The case focused on the interpretation of Rule 3(5) of the Cenvat Credit Rules, 2004 regarding the reversal of credit on the removal of cenvated capital goods. The dispute arose from the sale of burnt machinery post a fire accident, with the Department arguing for credit reversal while the Respondent claimed the machinery no longer qualified as capital goods. The Tribunal ruled in favor of the Respondent, determining that the machinery was sold as scrap and not as capital goods, affirming the duty payment based on the transaction value. The Tribunal dismissed the Revenue's appeal, upholding the Commissioner (Appeals)'s decision. Case-Laws Central Excise Tue, 16 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77697