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2017 (7) TMI 334 - CESTAT CHANDIGARHReversal of CENVAT credit - the appellant reversed the cenvat credit on capital goods on depreciated value as per Rule 3(5A) of the CCR, 2004 - Revenue is of the view that the appellant is entitled to avail cenvat credit upto 50 % of the value of capital goods, therefore, for the intervening period the appellant is required to reverse more cenvat credit at the time of clearance of the capital goods - Held that: - The appellant has rightly reversed the cenvat credit on appropriate value of the capital goods. - The interpretation made by the Revenue is only on assumption and presumption which is not sustainable in the eyes of law. - demand set aside - decided in favor of appellant.
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