https://www.taxtmi.com/caselaws?id=336329 The Tribunal ruled in favor of the manufacturing assessee regarding the liability to pay Cenvat credit reversal on cleared capital assets, rejecting the demand for duty payment and penalties. The Tribunal also set aside the invocability of the extended period of limitation under Section 11A of the Central Excise Act, allowing the appellant's appeal and entitling them to a refund of deposited amounts. The decision emphasized that the removal of capital assets after a period of use did not necessitate duty reversal, ultimately resulting in the appellant's success in the case. en-us Mon, 04 Jul 2016 00:00:00 +0530 Tue, 20 Dec 2016 07:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336329 The Tribunal ruled in favor of the manufacturing assessee regarding the liability to pay Cenvat credit reversal on cleared capital assets, rejecting the demand for duty payment and penalties. The Tribunal also set aside the invocability of the extended period of limitation under Section 11A of the Central Excise Act, allowing the appellant's appeal and entitling them to a refund of deposited amounts. The decision emphasized that the removal of capital assets after a period of use did not necessitate duty reversal, ultimately resulting in the appellant's success in the case. Case-Laws Central Excise Mon, 04 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336329