9911796707
TMI Blog2009 (12) TMI 762X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Revenue against the setting aside of the penalty under Section 11AC. 2. The facts of the case are that the respondent raised excess Cenvat credit of Rs. 13,680/- on capital goods and also claimed depreciation under Section 32 of Income-tax Act, 1961. The Rule 4(4)of Cenvat Credit Rules, 2002 provides that Cenvat credit in respect of capital goods shall not be allowed in respect of that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat when the duty has been confirmed the mandatory penalty under Section 11AC is also to be confirmed. Hence, the impugned order be set aside. 4. Heard. 5. I have gone through the facts of the case and found that it is a case of excess availment of Cenvat credit on capital goods on which the depreciation has been claimed by the respondent under Section 32 of Income-tax Act, 1961. In that event, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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