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TMI Blog2017 (11) TMI 1432X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant would go to show that the appellant has taken steps to rectify the defect - since the appellant has rectified the mistake of taking CENVAT credit as well as depreciation under Income Tax Act, the demand is unsustainable - appeal allowed - decided in favor of appellant. - E/787/2007 - Final Order No. 41861/2017 - Dated:- 24-8-2017 - Ms. Sulekha Beevi C.S., Member (Judicial) and Shri M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imposed. However, he set aside the penalty of ₹ 30,000/-. Aggrieved, the appellants are now before the Tribunal. 2. On behalf of the appellant, ld. Counsel Ms.Minchu Mariam Punnose submitted that though the appellant had erroneously availed CENVAT credit as well as depreciation under the Income Tax Act on the capital goods, the error was later corrected by filing appropriate revised ret ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llant. 3. Against this, the ld. AR Shri R. Subramaniyam reiterated the findings in the impugned order. He submitted that the revised returns filed by the appellant after the due date would not regularize the credit wrongly taken by the appellant. Further, there is no evidence to show that the revised returns has been accepted by the Income Tax Department. That therefore the demand raised is l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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