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TMI Blog2015 (10) TMI 1951X X X X Extracts X X X X X X X X Extracts X X X X ..... (5A) of the Cenvat Credit Rules, 2004 seems to be inappropriate for the reason that the said rule was inserted/substituted in Cenvat Credit Rules, 2004 on 17-3-2013 which would mean that on the date of clearances the said rule was not in existence. - Impugned order is set aside - Decided in favour of assessee. - E/13725/2013-DB - Final Order No. A/11124/2014-WZB/AHD - Dated:- 16-6-2014 - Shri M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of the appellant that they have correctly paid the duty liability, on the assessable value, as per the direction of the Jurisdictional Assistant Commissioner. It is the argument of the Revenue that provisions of Rule 3(5A) of the Cenvat Credit Rules, 2004 needs to be applied and appellant is required to reverse the amount of Cenvat credit or an amount equivalent to the duty liability on the tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eciation has to be calculated as contemplated in this provisions case wise. (ii) Based upon such a direction issued by the Assistant Commissioner, appellant discharged the duty liability on the value calculated based upon the provisions of Rule 3(5A) of Cenvat Credit Rules, 2004. On perusal of the provisions of Rule 3(5) of the Cenvat Credit Rules, 2004 during the relevant period, the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vice shall pay an amount equal to the Cenvat credit taken on the said capital goods reduced by 2.5 per cent for each quarter of a year or part thereof from the date of taking the Cenvat credit . It can be seen from the above reproduced rule that the appellant had correctly followed the procedure, as mandated in statutory provisions. We find that the reliance placed by the ld. Departmental Repre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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