https://www.taxtmi.com/caselaws?id=345377 The Tribunal allowed the appeal, setting aside the demand raised by the Revenue for Modvat credit availed on capital goods removed after use. It held that the demand was unsustainable considering the long period of use, applying a 2.5% reduction for each quarter from the date of taking credit, in line with relevant case law and Rule 3(5) of the Cenvat Credit Rules, 2004. The appellants were granted consequential relief based on this interpretation, emphasizing the importance of legal provisions and precedent in resolving the matter. en-us Fri, 16 Jun 2017 00:00:00 +0530 Thu, 17 Aug 2017 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345377 The Tribunal allowed the appeal, setting aside the demand raised by the Revenue for Modvat credit availed on capital goods removed after use. It held that the demand was unsustainable considering the long period of use, applying a 2.5% reduction for each quarter from the date of taking credit, in line with relevant case law and Rule 3(5) of the Cenvat Credit Rules, 2004. The appellants were granted consequential relief based on this interpretation, emphasizing the importance of legal provisions and precedent in resolving the matter. Case-Laws Central Excise Fri, 16 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345377