2015 (11) TMI 1613

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..... t credit. I find that the Chartered Accountant’s Certificate would clearly show that the appellant is not claiming depreciation in respect of Central Excise Duty or countervailing duty paid on the capital goods. The Department has not refuted the Chartered Accountant’s Certificate by any material. Hence, I am of the view that there is no reason to deny the modvat/cenvat benefit - appeal allowed - .....

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..... 3. I find that the appellant submitted the Chartered Accountant s certificate to establish that they had not taken depreciation under Section 32 of the Income Tax Act, 1961 on modvat/cenvat demand. For the proper appreciation of the case, the Chartered Accountant s Certificate dated 23.01.2006 is reproduced below:- On the basis of examination of books of accounts of M/s. Ecko Cables Pvt. Ltd .....

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..... ccountant s Certificate would clearly show that the appellant is not claiming depreciation in respect of Central Excise Duty or countervailing duty paid on the capital goods. The Department has not refuted the Chartered Accountant s Certificate by any material. Hence, I am of the view that there is no reason to deny the modvat/cenvat benefit. 5. In view of the above, the impugned order is set a .....

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