TaxTMI 
TaxTMI 
2017 (11) TMI 1383
X X X X Extracts X X X X
X X X X Extracts X X X X
....sioner (AR) - For the Respondent ORDER Per: M.V. Ravindran This appeal is directed against Order-in-Appeal No.218/2012 dated 13/08/2012. 2. Heard both sides and perused the records. 3. The issue that falls for consideration in this case is whether the appellant herein is required to reverse the cenvat credit availed on the capital goods which were exported after putting them to use and wheth....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nly) while they have debited an amount of Rs. 70,040/- (Rupees Seventy Thousand and Forty only) as prorata reversal of the cenvat credit on the capital goods after availing eligible depreciation from the value. 5. Learned DR reiterates the findings of the lower authority. 6. I find that both the lower authorities have misdirected their findings as to the confirmation of the demands raised in thi....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... cenvat credit availed on the capital goods when they were received by the appellant in their factory seem to be erroneous and unsustainable. 6.2. As regards the demand of Rs. 56,764/- (Rupees Fifty Six Thousand Seven Hundred and Sixty Four only), it is noticed that demand is based on the transaction value of the capital goods, based upon the depreciated value which is removed on payment of duty.....