https://www.taxtmi.com/caselaws?id=330601 Capital goods cleared after substantial use were not to be treated as removed as such for automatic full Cenvat credit reversal; the applicable approach was reversal on depreciated value under the Board circular, with remand required to recompute the credit payable on that basis. Where duty had been paid on the depreciated value and the dispute arose from conflicting views on the credit issue, mala fide intention was not established, so penalty was not justified and was set aside. en-us Mon, 04 Apr 2016 00:00:00 +0530 Mon, 14 Nov 2016 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330601 Capital goods cleared after substantial use were not to be treated as removed as such for automatic full Cenvat credit reversal; the applicable approach was reversal on depreciated value under the Board circular, with remand required to recompute the credit payable on that basis. Where duty had been paid on the depreciated value and the dispute arose from conflicting views on the credit issue, mala fide intention was not established, so penalty was not justified and was set aside. Case-Laws Central Excise Mon, 04 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330601