2014 (11) TMI 865

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..... -7-2003, it has been specifically mentioned that as per Circular issued in the year 2002, the appellant/assessee is liable to pay the tax mentioned therein. But as rightly pointed out on the side of the appellant/assessee, the Tribunal has not considered the said Circular whereas the Tribunal has remitted the matter to its original authority and also given necessary direction to apply the Circular issued in the year 1988. Further the Customs, Excise and Service Tax Appellate Tribunal, South Zonal Bench, Chennai has not at all considered the relevant provisions of law. - Tribunal to decide the matter afresh.
A. Selvam and G. Chockalingam, JJ. Shri S. Renganathan, Advocate, for the Appellant. Shri B. Vijay Karthikeyan, Advocate, for the .....

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..... en preferred. 3. On the side of the appellant, the following substantial questions of law have been raised for consideration : (a) Whether the first respondent correctly applied the law for availing the depreciation under Section 32 of the Income-tax Act, 1961 incorporated in Rule 4(4) of Cenvat Credit Rules, read with Rule 3(4) of Cenvat Credit Rules in respect of removal of used capital goods as such, during the year 2002? (b) Whether the first respondent erred in directing to apply straight line method of depreciation effective from 27-2-2010 which not prescribed during the period of removal of such capital goods (i.e.) Financial year 2002? (c) Whether the first respondent's order is retrograde in nature while rejecting the appl .....

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..... passed by the Customs, Excise and Service Tax Appellate Tribunal, South Zonal Bench, Chennai need not be interfered with. 6. As narrated earlier the only question that comes up for consideration in the present lis is as to whether the appellant/assessee is liable to pay central excise duty on the basis of straightline method or on the basis of return down value method under Section 32 of the Income-tax Act, 1961? 7. In the show cause notice dated 16-7-2003, it has been specifically mentioned that as per Circular issued in the year 2002, the appellant/assessee is liable to pay the tax mentioned therein. But as rightly pointed out on the side of the appellant/assessee, the Tribunal has not considered the said Circular whereas the .....

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