https://www.taxtmi.com/caselaws?id=345222 The Tribunal ruled in favor of the appellant, setting aside the demand for the reversal of cenvat credit imposed by the Revenue. The Tribunal held that the appellant correctly availed depreciation on the entire value of the capital goods from the date of credit-taking, in accordance with Rule 3(5) of the Cenvat Credit Rules, 2004. The demand was deemed unfounded as it was based on assumption and presumption, not legally sustainable. As a result, the appeal was allowed, and consequential relief was granted to the appellant. en-us Tue, 23 May 2017 00:00:00 +0530 Wed, 12 Jul 2017 08:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345222 The Tribunal ruled in favor of the appellant, setting aside the demand for the reversal of cenvat credit imposed by the Revenue. The Tribunal held that the appellant correctly availed depreciation on the entire value of the capital goods from the date of credit-taking, in accordance with Rule 3(5) of the Cenvat Credit Rules, 2004. The demand was deemed unfounded as it was based on assumption and presumption, not legally sustainable. As a result, the appeal was allowed, and consequential relief was granted to the appellant. Case-Laws Central Excise Tue, 23 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345222