9911796707
TMI Blog2017 (11) TMI 1397X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Income Tax Act or not becuase the appellant has submitted that it is only the irregularity crept in accounting of the credit in the concerned book which was purely unintentional and the appellant has not taken the double benefit - appeal allowed by way of remand. - ST/22054/2015-SM - 22461/2017 - Dated:- 3-8-2017 - Shri S.S Garg, Judicial Member Shri Manoj Pilla, Advocate Taxaide T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty. On scrutiny of the CENVAT credit documents for 2009-10 with the ledger accounts and Income Tax statements, it came to notice that they are availing depreciation on the second 50% part of the CENVAT credit availed violating the provisions of Rule 4(4) of the CENVAT Credit Rules, 2004. The lower authority after due process of law confirmed the demand of ₹ 94,345/- being the ineligible cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... both the parties and perused records. 4. Learned counsel for the appellant submitted that the impugned order is not sustainable in law as the same has been passed without considering the facts and the law. He further submitted that as per Rule 4(4) of CCRs, CENVAT credit on capital goods shall not be allowed in respect of that part of the value of capital goods which represents the amount of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rned AR reiterated the findings of the impugned order. 6. After considering the submissions of both the parties and perusal of material on record, I am of the considered view that this case needs to be remanded back to the original authority to verify whether the appellant has actually taken the depreciation under Section 32 of the Income Tax Act or not becuase the appellant has submitted that ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
