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2019 (2) TMI 433 - AT - Central ExciseCENVAT Credit - clearance/ sale of Capital goods after use - Rule 3(4) of CENVAT Credit Rules, 2002 - interpretation of statute - scope of the expression ‘as such’ - Held that:- The Hon’ble High Court of Madras in the case of CCE, Coimbatore Vs. Lakshmi Machine Works Ltd., [2015 (3) TMI 694 - MADRAS HIGH COURT] held that the assessee was required to reverse the credit equal to credit originally availed only if the capital goods were removed ‘as such’ which meant without putting the machinery to any use. The reversal of CENVAT credit on the depreciated value of the capital goods which were used for some time by the respondent herein is correct - appeal dismissed - decided against Revenue.
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