2007 (2) TMI 365

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..... ides. 2. The revenue is in appeal. 3. The respondents have cleared the capital goods under Rule 57S(I)(ii) on payment of duty equivalent to credit availed after deducting 2.5% of credit taken for each quarter of a year of the use in respect of paying duty prevalent at the rate of 13% at the time of clearance and then added to 2.5% per quarter of use of such capital goods and hence paid less du .....

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..... erry v. National Oxygen Ltd. - 2004 (176) E.L.T. 526 (Tri. Chennai) (ii) Eicher Tractors v. CCE, Jaipur - 2004 (175) E.L.T. 277 (Tri. Del.) It is observed that on transfer of capital goods, amount equivalent to benefit of credit availed only required to be reversed. The contention of the Department is that in case of removal of capital goods on which Modvat credit was availed, the duty shou .....

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