2009 (4) TMI 579

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..... his case appellants had claimed depreciation in respect of capital goods and simultaneously availed Cenvat credit also which was found by the officers of the department. As soon as the department pointed out the omission, appellants reversed the credit. Subsequently, appellants have filed revised Income-tax return which has been accepted by the I.T. Officer. Ld. Advocate Shri P.M. Dave on behalf o .....

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..... ns. As cited above, the issue is no longer res integra. However, in this case it is fact that mistake was pointed out by the department and if it was not found there was a possibility of availment of depreciation as well as Cenvat credit. Therefore, penalty is required to be imposed under Rule 27 of Central Excise Rules, 2002. Ld. Advocate did not object imposition of penalty under Rule 27, accord .....

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