TMI Blog2010 (10) TMI 424X X X X Extracts X X X X X X X X Extracts X X X X ..... determined under the provisions of Section 4 of the Central Excise Act and the depreciation as per the rates fixed in the Board’s Letter dated 26-5-1993 should be allowed - Hence, the order of the Tribunal in remanding back to the original authority for re-determination of the amount after allowing depreciation - The appeal fails and the same is dismissed. - 2418 of 2010 - - - Dated:- 22-10-2010 - F.M. Ibrahim Kalifulla and N. Kirubakaran, JJ. REPRESENTED BY : Shri E. Vijay Anand, Panel Counsel for Central Excise, for the Appellant. [Judgment per : F.M. Ibrahim Kalifulla, J.]. - The Commissioner of Central Excise is the appellant. The questions of law, which the appellant seeks to raise, read as under : 1. Whether the e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... igh Court of Bombay in the judgment reported in 2009 (234) E.L.T. A120, which was subsequently followed by the Tribunal in Principal Bench, New Delhi in the order reported in 2009 (242) E.L.T. 124, held that the claim of the first respondent that the paid duty on the used capital goods on the reduced value was justified. After so holding, the Tribunal set aside the orders of the lower authorities, remanded the matter back to the original authority, to re-determine the demand amount after allowing depreciation to the extent allowed in the decision reported in 2009 (242) E.L.T. 124. 4. We heard Mr. E. Vijay Anand, learned Standing Counsel for the appellant. Learned counsel by drawing our attention to Larger Bench decision of the Tribunal re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which stipulated that the capital goods on which Cenvat credit had been taken or removed after being used, the Manufacturer should pay an amount equal to the Cenvat credit taken on the said capital goods reduced by 2.5% for each quarter of a year or part thereof from the date of taking the Cenvat credit. The Board s Circular dated 1-7-2002 stated that the capital goods on which Cenvat credit had been taken or cleared under Rule 3(4), the Manufacturer would be required to pay an amount equal to the duty at the rate prevailing on the date of clearance and on the value determined under the provisions of Section 4 of the Central Excise Act and the depreciation as per the rates fixed in the Board s Letter dated 26-5-1993 should be allowed. 7. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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