https://www.taxtmi.com/caselaws?id=125803 The Commissioner's decision to allow the respondents' claim for availing credit on duty paid capital goods and disallowance of depreciation was upheld by the court. The court emphasized preventing double benefits under the Income-tax Act and CENVAT credit rules. The respondents' demonstration of reversing the depreciation claim and providing a certificate justified their entitlement to the credit, leading to the rejection of the revenue's appeal and disposal of the respondents' cross-objections. The judgment highlights the importance of aligning depreciation and credit claims to ensure compliance with tax and duty regulations for accurate financial treatment. en-us Fri, 16 Jan 2009 00:00:00 +0530 Wed, 02 Aug 2017 09:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125803 The Commissioner's decision to allow the respondents' claim for availing credit on duty paid capital goods and disallowance of depreciation was upheld by the court. The court emphasized preventing double benefits under the Income-tax Act and CENVAT credit rules. The respondents' demonstration of reversing the depreciation claim and providing a certificate justified their entitlement to the credit, leading to the rejection of the revenue's appeal and disposal of the respondents' cross-objections. The judgment highlights the importance of aligning depreciation and credit claims to ensure compliance with tax and duty regulations for accurate financial treatment. Case-Laws Central Excise Fri, 16 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125803