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2014 (7) TMI 67 - CESTAT MUMBAICENVAT Credit - Capital goods - removal as such - reversal of credit - Held that:- It is an admitted fact that at the time of procurement of capital goods the respondent has not taken the CENVAT credit at all. Therefore, as per the Rule 3(5) of CENVAT Credit Rules, 2004 an assessee is required to reverse the CENVAT credit taken on clearance of the input/capital goods "as such". Admittedly, in this case when the respondent has not taken CENVAT credit therefore, they are not required to reverse any credit on these capital goods. In this set of facts, issuance of show-cause notice was not required at all. Therefore, all the proceedings initiated in the show-cause notice are set aside. In these circumstances, I do not find any infirmity with the impugned order and the same is upheld - Decided against Revenue.
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