9911796707
TMI Blog2017 (11) TMI 1383X X X X Extracts X X X X X X X X Extracts X X X X ..... hich prohibits an export of capital goods which are put to use. In the absence of any such provision, the confirmation of the demand of reversal of cenvat credit availed on the capital goods when they were received by the appellant in their factory seem to be erroneous and unsustainable - demand set aside. Whether the capital goods removed for home consumption the duty liability arises or other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. The issue that falls for consideration in this case is whether the appellant herein is required to reverse the cenvat credit availed on the capital goods which were exported after putting them to use and whether the capital goods removed for home consumption the duty liability arises or otherwise. 4. Learned CA takes me through the case records and submits that issue is regarding four ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ligible depreciation from the value. 5. Learned DR reiterates the findings of the lower authority. 6. I find that both the lower authorities have misdirected their findings as to the confirmation of the demands raised in this case along with interest and also imposition of penalties. 6.1. Firstly it is undisputed that the three capital goods which were cleared for exports were exported by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and of ₹ 56,764/- (Rupees Fifty Six Thousand Seven Hundred and Sixty Four only), it is noticed that demand is based on the transaction value of the capital goods, based upon the depreciated value which is removed on payment of duty. The duty liability discharged, which is ₹ 70,040/- (Rupees Seventy Thousand and Forty only) is not disputed. The First Appellate Authority has dismissed th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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