2009 (7) TMI 439

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.... Srivastava, SDR, for the Respondent. [Order (Oral)]. - After hearing both sides for a while on the stay petition, I deem it appropriate to dispose of the appeal finally and accordingly, I waive pre-deposit of the dues as per the impugned order and proceed to dispose of the appeal finally. 2. The appellants have units in Gurgaon and Manesar. In the Gurgaon factory, they received certain capi....

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....s imported by the manufacturer stand used for the intended purpose. The Gurgaon factory, at the time of removal of capital goods adopted the depreciated value and reversed credit to the tune of Rs. 1,20,107/-. Even if they were required to pay the amount of Rs. 1,74,159/-, the entire amount was available as credit to the manufacturing unit at Manesar. He relies on the decision of the Tribunal in t....

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....ust whether the same are removed after use or without use. Learned SDR also submits that adoption of depreciated value for the purpose of reversal of credit of capital goods removed is permissible only with effect from 13-11-2007 after amendment of Rule 3(5) of the Cenvat Credit Rules. 5. I have carefully considered the submissions from both sides. The amendment dated 13-11-2007 covers cases of....