https://www.taxtmi.com/caselaws?id=124567 Cenvat credit on capital goods need not be reversed when used capital goods are cleared as scrap after several years of use, because reversal is triggered only on removal "as such". The Tribunal noted that the goods were not removed in the condition in which they were received, but after long factory use, and relied on Board circulars and earlier decisions indicating that duty on such removals is to be determined after allowing depreciation. On that basis, duty paid on transaction value was treated as correct and the assessee's position was accepted. en-us Tue, 29 Apr 2008 00:00:00 +0530 Mon, 01 Oct 2012 18:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124567 Cenvat credit on capital goods need not be reversed when used capital goods are cleared as scrap after several years of use, because reversal is triggered only on removal "as such". The Tribunal noted that the goods were not removed in the condition in which they were received, but after long factory use, and relied on Board circulars and earlier decisions indicating that duty on such removals is to be determined after allowing depreciation. On that basis, duty paid on transaction value was treated as correct and the assessee's position was accepted. Case-Laws Central Excise Tue, 29 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124567