https://www.taxtmi.com/caselaws?id=126014 Credit of duty on capital goods or spares cannot be denied merely because depreciation was initially indicated on the duty component under the Income-tax Act, where a revised return excludes that element. The revised return neutralised any earlier depreciation claim, so there was no simultaneous double benefit of depreciation and duty credit. A Chartered Accountant's confirmation supported that position. The Commissioner (Appeals) therefore correctly allowed the credit, and the Revenue's challenge failed. en-us Fri, 13 Feb 2009 00:00:00 +0530 Tue, 01 Aug 2017 08:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126014 Credit of duty on capital goods or spares cannot be denied merely because depreciation was initially indicated on the duty component under the Income-tax Act, where a revised return excludes that element. The revised return neutralised any earlier depreciation claim, so there was no simultaneous double benefit of depreciation and duty credit. A Chartered Accountant's confirmation supported that position. The Commissioner (Appeals) therefore correctly allowed the credit, and the Revenue's challenge failed. Case-Laws Central Excise Fri, 13 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126014