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TMI Blog2011 (9) TMI 859X X X X Extracts X X X X X X X X Extracts X X X X ..... quarter of a year - any prima facie reasons to support the above observations of Commissioner (Appeals). There is nothing in the un-amended Rule 3(5) indicating that straight line method is not required to be accepted - Merely because such straight line method has been specifically mentioned in the subsequent Rule 3(5), it does not mean that the earlier rule was to the contrary, in the absence of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and penalty of identical amount. 2. After hearing both the sides, we find that the appellants are engaged in the manufacture of polyester chips, printing ink and adhesives etc. They availed the benefit of Modvat credit in respect of capital goods received by them in the year 1996. The same were subsequently cleared by them to their sister unit on 23-11-2007 on payment of duty by calculating the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said expression that such a reduction is required to be done on reduced values instead of adopting the straight line method. Commissioner (Appeals) has referred to the subsequent amendment in the said provisions which clarified that such reduced rate has to be calculated by straight line method for depreciation. As such he has observed that inasmuch as the earlier provision did not prescribe stra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s contention on the point of time bar. As also on the issue of revenue neutrality in as much as the capital goods were cleared by the appellant to their sister concern only, who had availed the benefit of the credit of the duty paid by the appellant. 8. On the above observations, we allow the stay petition unconditionally. (Dictated and pronounced in open Court) - - TaxTMI - TMITax - Centr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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