https://www.taxtmi.com/caselaws?id=266060 On removal of used capital goods, the amount payable is to be computed after reducing the credit attributable to depreciation in line with Board Circular No. 643/34/2002-CX and settled Tribunal practice. Applying that principle, the assessee's earlier reversal exceeded the balance payable on the depreciated value, leaving only a small residual demand. Because that differential amount and the interest had already been paid before adjudication, penalty was not justified. The operative effect was to confine the demand to the reduced balance and delete the penalty. en-us Fri, 13 Mar 2015 00:00:00 +0530 Sat, 17 Oct 2015 23:22:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266060 On removal of used capital goods, the amount payable is to be computed after reducing the credit attributable to depreciation in line with Board Circular No. 643/34/2002-CX and settled Tribunal practice. Applying that principle, the assessee's earlier reversal exceeded the balance payable on the depreciated value, leaving only a small residual demand. Because that differential amount and the interest had already been paid before adjudication, penalty was not justified. The operative effect was to confine the demand to the reduced balance and delete the penalty. Case-Laws Central Excise Fri, 13 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266060