https://www.taxtmi.com/caselaws?id=335150 The Tribunal ruled in favor of the Revenue, determining that CENVAT credit on capital goods cleared after use should be reversed at the depreciated value at the time of clearance. Duty payment should be based on the depreciated value, in line with legal precedents and CBEC Circulars. The Tribunal remanded the case to the adjudicating authority to reconsider all aspects, including the time-barred recovery of CENVAT credit. Legal precedents and Circulars were crucial in guiding the decision, leading to the remand for a comprehensive redetermination to ensure a fair resolution. en-us Thu, 20 Oct 2016 00:00:00 +0530 Sat, 26 Nov 2016 10:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335150 The Tribunal ruled in favor of the Revenue, determining that CENVAT credit on capital goods cleared after use should be reversed at the depreciated value at the time of clearance. Duty payment should be based on the depreciated value, in line with legal precedents and CBEC Circulars. The Tribunal remanded the case to the adjudicating authority to reconsider all aspects, including the time-barred recovery of CENVAT credit. Legal precedents and Circulars were crucial in guiding the decision, leading to the remand for a comprehensive redetermination to ensure a fair resolution. Case-Laws Central Excise Thu, 20 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335150