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2018 (6) TMI 5 - CESTAT CHENNAIDepreciation on machinery removed to sister unit - Valuation - proof of possession of property - appellant claims that the duty has to be assessed by considering the depreciation on such machinery - Held that:- The impugned machineries were removed without obtaining permission and in violation of the terms and conditions of the notification. The goods were not in the custody or possession of the appellant as on the date of exit order dated 12.2.2004 or even on the date of visit of the officers on 5.1.2001. In such case, the appellant cannot claim the depreciation of the goods which they do not have possession or custody - appeal dismissed - decided against appellant.
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