2000 (11) TMI 396 - AT - Central Excise

Summary

The Commissioner of Central Excise confirmed duty demand of Rs. 48,08,428 and imposed a penalty of Rs. 5 lakhs on the applicants for allegedly claiming excess depreciation. The issue was determining the date of commencement of commercial production for calculating depreciation. The Tribunal waived pre-deposit of duty and penalty pending appeal based on Circular No. 27/98 stating depreciation starts when capital goods are put into manufacturing process in 100% EOU.