9911796707
TMI Blog2019 (8) TMI 1099X X X X Extracts X X X X X X X X Extracts X X X X ..... the authorities, writing back the depreciation claimed - this would amount to non availment of depreciation as per and in accordance of provisions of CENVAT Credit 2004. The adjudicating authority has taken a conscious note of this and dropped the demand alongwith interest, recording so, very clearly. If that be the case, the question of imposition of any penalty on the appellant does not arise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e despite notice. 3. On perusal of records, I find that the matter is in a narrow compass, therefore the appeal is taken up for disposal even in the absence of any representation from the appellant assessee. 4. On perusal of records, it transpires that the issue is regarding the challenge of the assessee appellant on the penalty imposed by the adjudicating authority ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e adjudicating authority, after following the principles of law, dropped the demands raised for the reversal of CENVAT Credit as also for the interest by recording that the appellant has revised the income tax returns and wrote back the depreciation claim on the amount of central excise duty, but he imposed equivalent amount of penalty on the appellant under the provisions of Rule 15(2) of CENVAT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... records, I find that there is no dispute as to the fact that the appellant had availed the CENVAT Credit on the duty paid on capital goods and also claimed depreciation from the income tax authorities, however, he filed revised income tax returns with the authorities, writing back the depreciation claimed. In my view, this would amount to non availment of depreciation as per and in accordance of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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