2011 (7) TMI 470

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....p; Revenue is in appeal against the order of Commissioner(Appeals) vide which he has allowed the respondent s appeal.   2. After hearing both sides, I find that the issue relates to clearance of the used and old capital goods on which the respondent had earlier availed the CENVAT Credit. Such capital goods were cleared by the respondent on payment of duty on transaction value. Revenue w....

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....) of CENVAT Credit Rules, 2002, which is identical to Rule 3(5) of the present CENVAT Credit Rules, 2004, with which we are concerned in the present case. In other words, the CENVAT Credit taken at the time of receipt of the capital goods in the factory is not required to be reversed but duty is required to be paid on the transaction value of the used capital goods cleared under Rule 3(5) of the C....