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2017 (7) TMI 489 - AT - Central ExciseMODVAT credit - removal of Capital goods as such - demand of an amount equal to the Modvat credit taken on the capital goods by invoking Rule 3 (5) of the CCR, 2004 on the ground that the capital goods were removed as such - Held that: - when capital goods are removed after use it cannot be said that the goods are removed as such for the purpose of reversing the entire credit taken at the time of receiving the capital goods as prescribed in Rule 3 (5) of CCR 2004 - appellants have removed the capital goods after more than 10 years and that also after being used in their factory for a long time. The cenvat credit was taken in May 1995 to August 1995. The factory was later closed down and the capital goods were removed on 26.12.2006, after payment of excise duty on the transaction value - the demand is unsustainable - appeal allowed - decided in favor of appellant.
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