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TMI Blog2017 (3) TMI 1216X X X X Extracts X X X X X X X X Extracts X X X X ..... placed in the case of Eicher Tractors Vs. CCE [2005 (9) TMI 340 - CESTAT, NEW DELHI], where it was held that The revenue cannot argue against its own Circular, when the Board has stated that the provisions of the Rule 3(5) of the CCR, 2004 would apply in respect of the capital goods and inputs on which credit has been availed are removed as such - demand set aside - appeal allowed - decided in favor of appellant. - E/388/06 - A/86063/17/EB - Dated:- 27-2-2017 - Mr Ramesh Nair, Member(Judicial) And Mr. Raju, Member (Technical) Shri. Jitu Motwani, Advocate for the Appellants Shri. N.N. Prabhudesai, Superintendent(A.R.) for the Respondent Per : Raju This appeal has been filed by the M/s. Hindustan Coca Cola Beverages Pvt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue neutrality in the instant case. 4. We have gone through rival submissions. 5. We find that CBEC Circular No. 643/34/2002-CX dated 1-7-2002 clarifies as unde : 14. How will valuation be done when inputs or capital goods, on which CENVAT credit has been taken, are removed as such from the factory, under the erstwhile sub-rule (1C) of Rule 57AB of the Central Excise Rules, 1944, or under Rule 3(4) of the Cenvat Credit Rules, 2001 or 2002 ? Where inputs or capital goods, on which credit has been taken, are removed as such on sale , there should be no problem in ascertaining the transaction value by application of Sec. 4(1)(a) or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e not been produced or manufactured in his factory. Recourse will, therefore, have to be taken to the residuary Rule 11 of the valuation rules and the value determined using reasonable means consistent with the principles and general provisions of the valuation rules and sub-section (1) of Sec. 4 of the Act. In that case it would be reasonable to adopt the value shown in the invoice on the basis of which CENVAT credit was taken by the assessee in the first place. In respect of capital goods adequate depreciation may be given as per the rates fixed in letter F. No. 495/16/93-Cus.-VI, dated 26-5-93 , issued on the Customs side. In terms of the said clarification, it is clear that for arriving at value of the said goods, val ..... X X X X Extracts X X X X X X X X Extracts X X X X
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