https://www.taxtmi.com/caselaws?id=34500 On clearance of used capital goods "as such" under Rule 3(5) of the Cenvat Credit Rules, 2004, the entire Cenvat credit originally taken had to be reversed; the expression covered goods cleared after use as well as without use, and depreciation-based reversal under the repealed Rule 57S(2) could not apply. Because the dispute arose from conflicting Tribunal views on the correct method of reversal, penalty was not imposed. Once full reversal was held due, interest was payable on the differential amount, so the duty and interest demand was restored while the penalty was set aside. en-us Fri, 21 Nov 2008 00:00:00 +0530 Mon, 07 Sep 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34500 On clearance of used capital goods "as such" under Rule 3(5) of the Cenvat Credit Rules, 2004, the entire Cenvat credit originally taken had to be reversed; the expression covered goods cleared after use as well as without use, and depreciation-based reversal under the repealed Rule 57S(2) could not apply. Because the dispute arose from conflicting Tribunal views on the correct method of reversal, penalty was not imposed. Once full reversal was held due, interest was payable on the differential amount, so the duty and interest demand was restored while the penalty was set aside. Case-Laws Central Excise Fri, 21 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34500