https://www.taxtmi.com/caselaws?id=207830 On clearance of used and old capital goods after they had been put to use, duty paid on the transaction value was sufficient and did not require reversal of the entire CENVAT credit originally availed on receipt. The governing rule applied to goods cleared "as such", meaning without use, and that expression was not satisfied here. Prior tribunal and High Court interpretations supported the view that once capital goods have been used, only duty on transaction value is payable on removal. Accordingly, the assessee was not obliged to reverse the original CENVAT credit. en-us Fri, 01 Jul 2011 00:00:00 +0530 Mon, 17 Oct 2011 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207830 On clearance of used and old capital goods after they had been put to use, duty paid on the transaction value was sufficient and did not require reversal of the entire CENVAT credit originally availed on receipt. The governing rule applied to goods cleared "as such", meaning without use, and that expression was not satisfied here. Prior tribunal and High Court interpretations supported the view that once capital goods have been used, only duty on transaction value is payable on removal. Accordingly, the assessee was not obliged to reverse the original CENVAT credit. Case-Laws Central Excise Fri, 01 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207830