https://www.taxtmi.com/caselaws?id=110834 Clearance of damaged capital goods as waste and scrap on payment of duty did not justify compulsory reversal of Modvat credit, because Rule 57S(2)(c) covered capital goods sold as waste and scrap without distinguishing the cause of scrap generation. In the absence of any express provision requiring proportionate reversal, recovery of part of the credit could not be sustained, and the demand was set aside in favour of the assessee. en-us Mon, 12 Jan 2004 00:00:00 +0530 Wed, 18 Apr 2012 17:50:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110834 Clearance of damaged capital goods as waste and scrap on payment of duty did not justify compulsory reversal of Modvat credit, because Rule 57S(2)(c) covered capital goods sold as waste and scrap without distinguishing the cause of scrap generation. In the absence of any express provision requiring proportionate reversal, recovery of part of the credit could not be sustained, and the demand was set aside in favour of the assessee. Case-Laws Central Excise Mon, 12 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110834