https://www.taxtmi.com/caselaws?id=757869 CESTAT Allahabad allowed the appeal regarding reversal of CENVAT credit on capital goods. The tribunal held that capital goods used for 2-4 years before sale cannot be considered as sold "as such" but rather as used capital goods, following Delhi HC precedent. The tribunal found that Rule 3(5) of CCR 2004 lacked recovery mechanism for CENVAT credit during the disputed period, and revenue failed to prove credit availment per SC ruling. The demand was set aside and impugned order reversed. en-us Mon, 02 Sep 2024 00:00:00 +0530 Wed, 04 Sep 2024 08:18:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757869 CESTAT Allahabad allowed the appeal regarding reversal of CENVAT credit on capital goods. The tribunal held that capital goods used for 2-4 years before sale cannot be considered as sold "as such" but rather as used capital goods, following Delhi HC precedent. The tribunal found that Rule 3(5) of CCR 2004 lacked recovery mechanism for CENVAT credit during the disputed period, and revenue failed to prove credit availment per SC ruling. The demand was set aside and impugned order reversed. Case-Laws Central Excise Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757869