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2018 (3) TMI 446 - AT - Central ExciseCENVAT credit - Duty on depreciated value of capital goods removed - the department was of the view that the capital goods have been removed as such and that the assessee is liable to reverse the credit - Board Circular No.43/34/2002-CX dated 1.7.2002 as well as Circular No.495/16/1993 dated 26.5.1993 - Held that: - As per the Board’s Circular, during the relevant period, the assessees are liable to pay duty on the basis of the depreciated value of the capital goods removed on the credit availed capital goods - the Commissioner (Appeals) has given a very reasoned order by setting aside the confirmation of demand and directed the lower authority to requantify the duty on the basis of the depreciated value of the capital goods - appeal dismissed - decided against Revenue.
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