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2016 (9) TMI 889 - CESTAT NEW DELHICenvat credit - Whether, after putting the capital goods into use for a period of around 10 years, the assessee is required to reverse the cenvat credit originally taken at the time of receipt of goods or the fact of payment of duty on the transaction value would satisfy the provisions of law - Held that:- Rule 3(5) of Cenvat Credit Rules, 2004, provides for reversal of cenvat credit when the capital goods are removed as such. The expression as such appearing in the said Rule was the subject matter of various decisions and stand interpreted by various Courts to the effect that the said provisions would apply when the capital goods are cleared without putting them to use. The issue stands decided by a Larger Bench decision in the case of Modernova Plastyles Pvt. Ltd. vs. Commissioner [2008 (10) TMI 51 - CESTAT, MUMBAI]. In view of the same, the impugned orders are set aside. - Decided in favour of appellant
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