2012 (4) TMI 159

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..... whereas the contention of the appellant is that when capital goods are removed after use it is not clearance of the goods as such - Held that:- the said rule cannot be interpreted to cover clearance of capital goods after its use and reversal of Cenvat credit based on transaction value of the capital good is good enough as decided in CCE Vs. Raghav Alloys Ltd - 2010 - TMI - 77070 - PUNJAB & HARYA .....

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..... eriod. Revenue is relying on Rule 3(5) of Cenvat Credit Rules where it is stated that when inputs or capital goods are removed as such the credit taken initially should be reversed. The contention of the appellant is that when capital goods are removed after use it is not clearance of the goods as such . This issue has been subject matter of dispute in a few cases and recently Punjab Haryana Hig .....

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