9911796707
TMI Blog2015 (10) TMI 1236X X X X Extracts X X X X X X X X Extracts X X X X ..... Authorised Representative Per: H.K. Thakur This appeal has been filed by the appellant against O.I.A No. SRP/93/DMN/VALSAD/2012-13 Dated 23.08.2012 under which first appellate authority has upheld O.I.O No. CEX/26/DEM/Adj/GS-Addi./12-13 Dated 15.05.2012. Under this O.I.O Dated 15.05.2012 Adjudicating Authority disallowed credit of Rs. 11,73,596/- alongwith interest on the grounds that appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owing case laws to argue that once the claim for depreciation made in income tax return is reversed and a certificate to that effect is produced then net result will be that appellant has not claimed depreciation on capital goods and can avail CENVAT credit simultaneously:- (i) Commissioner of Central Excise, Surat-I vs Utsav Silk Mills [2009 (245) E.L.T. 246 (Tri. - Ahmd.)] (ii) Terna Shetkari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is subsequently mentioned that revised income tax returns for the financial year 2010-2011 was filed under which depreciation claimed the assessment years 2006-2007 to 2009-2010 was surrendered and that this point has been subsequently certified by Chartered Accountant's Certificate. 5. Heard both sides and perused the case records. The issue involved in the present proceedings is whether CEN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on made in the income-tax return is reversed and a certificate to that effect is produced, the net result is that the appellants have not claimed depreciation during the relevant period and therefore would be entitled to the credit. Accordingly appeal filed by the revenue is rejected. The cross-objections filed by the respondent also gets disposed of.' 6. In view of the above settled proposition ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
