https://www.taxtmi.com/caselaws?id=126525 Rule 3(4) of the Cenvat Credit Rules, 2001 applies only when inputs or capital goods on which credit has been taken are removed as such from the factory, with duty then payable on the value determined under the excise valuation provisions. Where transformer oil is consumed within the factory in repairing old and damaged transformers, separate records are maintained for repair use, and proportionate credit is reversed, the oil is not treated as removed as such. On those facts, Rule 3(4) was inapplicable and duty could not be demanded on the basis of the transaction value. en-us Tue, 07 Jul 2009 00:00:00 +0530 Wed, 21 Nov 2012 17:26:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126525 Rule 3(4) of the Cenvat Credit Rules, 2001 applies only when inputs or capital goods on which credit has been taken are removed as such from the factory, with duty then payable on the value determined under the excise valuation provisions. Where transformer oil is consumed within the factory in repairing old and damaged transformers, separate records are maintained for repair use, and proportionate credit is reversed, the oil is not treated as removed as such. On those facts, Rule 3(4) was inapplicable and duty could not be demanded on the basis of the transaction value. Case-Laws Central Excise Tue, 07 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126525