2014 (1) TMI 112

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..... RDER Per Dr. D.M. Misra; 1. This is an application seeking waiver of pre-deposit of MODVAT Credit of Rs.60,75,043/- and equal amount of penalty imposed under Rule 57U(6) read with Rule 173Q(bb) of erstwhile Central Excise Rules, 1944. 2. Ld. Advocate Shri M. P. Debnath, for the applicant, has submitted that during April, 1994 to March, 1998, the Applicant had availed MODVAT Credit on various ca .....

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..... (Tri.-Del.). 3. Ld. A.R. for the Revenue did not dispute the retrospective amendment and also the Certificate of Chartered Accountant produced by the Applicant. 4. Heard both sides and perused the records. We find that in the Chartered Accountant Certificate it is clearly mentioned that the applicant had neither claimed depreciation under Section 32 of Income tax Act, 1961 nor as 'Revenue expend .....

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