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2017 (9) TMI 1116 - AT - Central ExciseReversal of CENVAT credit - capital goods destroyed in fire - Rule 3(5) of Cenvat Credit Rules - Held that: - if capital goods or inputs have been removed as such, then the only option is that assessee is required to reversed the Cenvat credit availed on these goods. If capital goods are put in use, in that case, provision of Rule 3(5) of Cenvat Credit Rules, 2004 are not applicable - Admittedly, in the case in hand, capital goods were in use by the appellant and after use have been destroyed in fire. CENVAT credit not required to be reversed - appeal allowed - decided in favor of appellant.
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