https://www.taxtmi.com/caselaws?id=114347 The second proviso to Rule 57S(1) of the Central Excise Rules was construed to mean that the phrase "a year of use or fraction thereof" links the fraction to a year of use, not to a quarter. On that reading, the 2.5% deduction for removal of capital goods applies by reference to each quarter of a year of use and cannot be extended to treat part of a quarter as a full quarter for a larger deduction. The lower authority's method of duty computation on removal of capital goods after Modvat credit was affirmed, and the appellant's broader interpretation was rejected. en-us Tue, 13 Jul 2004 00:00:00 +0530 Mon, 14 May 2012 18:25:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114347 The second proviso to Rule 57S(1) of the Central Excise Rules was construed to mean that the phrase "a year of use or fraction thereof" links the fraction to a year of use, not to a quarter. On that reading, the 2.5% deduction for removal of capital goods applies by reference to each quarter of a year of use and cannot be extended to treat part of a quarter as a full quarter for a larger deduction. The lower authority's method of duty computation on removal of capital goods after Modvat credit was affirmed, and the appellant's broader interpretation was rejected. Case-Laws Central Excise Tue, 13 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114347