9911796707
TMI Blog2014 (4) TMI 1142X X X X Extracts X X X X X X X X Extracts X X X X ..... hwa : After hearing both the sides, I find that the appellants are engaged in the manufacture of fuel injection pumps used in automobiles. The capital goods received by the them in the year 1997, after sufficient use, were transferred by them to the sister unit on 11.12.2004, on payment of duty of Rs. 2,81,422/-. According to the appellant such payment was made on the depreciated value of the cap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equired to be decided in the present appeal is as to whether on removal of used capital goods, the appellant is required to reverse the entire Cenvat credit originally taken by him at the time of receipt of the capital goods or not. I find that the demands stands confirmed in terms of the provisions of Rule 3(5) of Cenvat Credit Rules. The said Rule applies to removal of capital goods as such and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credit is required to be followed. 5.Accordingly, I set aside the impugned order and remand the matter to the original adjudicating authority for arriving at the depreciated value of the capital goods in question inasmuch as I nowhere find as to how the depreciated value stands arrived at by the appellant. However, I do not find it a case of imposition of penalty the same is accordingly set aside ..... X X X X Extracts X X X X X X X X Extracts X X X X
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