2013 (11) TMI 1144

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..... elevant period - The amount on which the depreciation was availed by the appellants was not reversed in the same financial year in the ledger accounts of fixed assets but was reversed on 1.4.2009 in the financial year 2009-2010 and the amount has been shown on debt side of ledger account under head ‘plant and machinery on 1.4.2009 - appellant was not able to show to the adjudicating authority the .....

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..... it availed on the capital goods during the period final year 2005-2006 to 2008-2009 holding that appellant in addition to availment of Cenvat credit on capital goods also claimed depreciation benefit under Section 32 of Income Tax Act, 1961 on the capital goods. The original authority concluded that the appellant had availed double benefit and thus there was contravention of provisions of Rule 4(4 .....

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..... 1961 (43 of 1961). 5. In the present case, the appellant has taken the depreciation of duty element of Rs. 4,94,446/- and also availed Cenvat credit of the same amount during the relevant period. The amount of Rs.4,94,446/- on which the depreciation was availed by the appellants was not reversed in the same financial year in the ledger accounts of fixed assets but was reversed on 1.4.2009 in the .....

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