https://www.taxtmi.com/caselaws?id=330653 On clearance of long-used capital goods, only the Cenvat credit attributable to the depreciated value was recoverable; full reversal of the credit originally availed was not required. Applying the Larger Bench view, the Madras High Court ruling in Rogini Mills, and the relevant C.B.E. & C. circular, the liability was limited to the amount computed on depreciated value rather than the entire original credit. As the assessee had already reversed more than that amount, the demand could not be sustained, and the penalty and interest were set aside. en-us Fri, 01 Jul 2016 00:00:00 +0530 Mon, 26 Dec 2016 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330653 On clearance of long-used capital goods, only the Cenvat credit attributable to the depreciated value was recoverable; full reversal of the credit originally availed was not required. Applying the Larger Bench view, the Madras High Court ruling in Rogini Mills, and the relevant C.B.E. & C. circular, the liability was limited to the amount computed on depreciated value rather than the entire original credit. As the assessee had already reversed more than that amount, the demand could not be sustained, and the penalty and interest were set aside. Case-Laws Central Excise Fri, 01 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330653