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TMI Blog2013 (12) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... PER : D M Misra This is an Application filed seeking waiver of predeposit of CENVAT Credit of Rs.6.84 crore and equivalent amount of penalty imposed under Rule 15 of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944. 2. At the outset, ld. Advocate for the Applicant has submitted that the Applicant during the period from October, 2006-07 to 2008-09 had availed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AT Credit on the same capital goods. In support, he has referred to the Certificate issued by the Assistant Commissioner of Income Tax, Circle-2(2), Bhubaneswar dated 08.08.2013 issued from F.No.ACIT/C-2(2)/Cft/2013-14. The ld. Advocate, however, fairly accepted that the said Certificate was not produced before the ld. Adjudicating Authority, but only relevant Income Tax Returns and the audited ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 32 of the Income Tax Act, 1961 on the same capital goods. The Appellant claimed that even though they had claimed depreciation in the financial years, 2006-07 and 2007-08, but subsequently in their return, they had revised the amount of depreciation resulting into deletion of claim of depreciation. Subsequently, after deletion of the said amount of depreciation, they had availed the CENVA ..... X X X X Extracts X X X X X X X X Extracts X X X X
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