https://www.taxtmi.com/caselaws?id=217971 Rule 3(5) of the Cenvat Credit Rules, 2004 does not apply when capital goods are removed after substantial use in manufacture, because such clearance is not removal "as such". The Tribunal noted that the goods had been used for a significant period and duty had been paid on the transaction value at clearance. Relying on contrary tribunal views and High Court decisions, it held that reversal of the entire Cenvat credit originally taken was not warranted. The Revenue's demand for full credit reversal was therefore rejected, and the assessee's position was upheld. en-us Wed, 09 Nov 2011 00:00:00 +0530 Mon, 17 Sep 2012 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217971 Rule 3(5) of the Cenvat Credit Rules, 2004 does not apply when capital goods are removed after substantial use in manufacture, because such clearance is not removal "as such". The Tribunal noted that the goods had been used for a significant period and duty had been paid on the transaction value at clearance. Relying on contrary tribunal views and High Court decisions, it held that reversal of the entire Cenvat credit originally taken was not warranted. The Revenue's demand for full credit reversal was therefore rejected, and the assessee's position was upheld. Case-Laws Central Excise Wed, 09 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217971