2024 (8) TMI 11

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....AL Present For the Appellant : Mr. Amrinder Singh, Advocate. For the Respondent : Mr. Tejinder K. Joshi, Sr. Standing Counsel. *** SANJEEV PRAKASH SHARMA, J.(Oral) 1. Both the counsel are ad-idem that the issue raised in the present petition has been finally adjudicated by this Court in the case of Commissioner of C. Ex., Chandigarh vs. Raghav Alloys Ltd. 2011 (268) E.L.T. 161 (P....

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.... use in relation to manufacture of finished goods, capital goods are used over a period of time. The capital goods loose their identity as capital goods only when after use over a period the same has become of time, in-serviceable and fit to be scrapped. The object of Cenvat Credit capital goods is to avoid the cascading effect of duty. If even after use for on a couple of years, the Cenvat Credit....

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....d 1-7-2002 clarified that in the case of clearance of goods after being put into use, the value shall be determined after allowing the benefit to depreciation as per rates fixed in Boards' Letter dated 26-5-1993. The Respondent has utilized the machinery for nine years and paid duty on transaction value. The machine cleared after putting into use for nine years cannot be treated as Cleared &#3....

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.... 29.03.2003. After using the said Moulds and Dies at its factory, they were removed by invoices to its sister unit during the same period, claiming depreciation as per the rates fixed by the Central Board of Excise and Customs vide its circular dated 26.05.1993 and 01.07.2002. The appellant, therefore, has paid duty on the depreciated value of the capital goods. Thus, we find that duty has been di....