https://www.taxtmi.com/caselaws?id=266710 Used capital goods cleared after long use were not treated as removed "as such" under Rule 3(5) of the Cenvat Credit Rules, 2004, because the goods had been in use for about ten years before clearance. On that basis, reversal of the entire original Cenvat credit was not required. The proviso also supported the assessee, as depreciation at 2.5% per quarter over the period of use resulted in the credit being fully exhausted. The demand based on transaction value was therefore unsustainable, and no Cenvat credit reversal was payable. en-us Tue, 01 Sep 2015 00:00:00 +0530 Sat, 09 Jan 2016 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266710 Used capital goods cleared after long use were not treated as removed "as such" under Rule 3(5) of the Cenvat Credit Rules, 2004, because the goods had been in use for about ten years before clearance. On that basis, reversal of the entire original Cenvat credit was not required. The proviso also supported the assessee, as depreciation at 2.5% per quarter over the period of use resulted in the credit being fully exhausted. The demand based on transaction value was therefore unsustainable, and no Cenvat credit reversal was payable. Case-Laws Central Excise Tue, 01 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266710