https://www.taxtmi.com/caselaws?id=126536 The Appellate Tribunal CESTAT, Ahmedabad addressed the denial of Modvat credit to the appellant for capital goods due to initial availing of depreciation under the Income Tax Act. Despite filing revised Income Tax Returns without the depreciation claim, the authorities rejected the claim. The Tribunal clarified that when revised Returns are filed without the claim of depreciation, it should be considered as if no depreciation was claimed. Relying on previous decisions, the Tribunal allowed the appellant's appeal, setting aside the impugned order and remanding the matter for a fresh decision based on the judgments cited, emphasizing the verification of non-claim of depreciation in the Income Tax Returns. en-us Tue, 14 Jul 2009 00:00:00 +0530 Wed, 21 Nov 2012 18:22:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126536 The Appellate Tribunal CESTAT, Ahmedabad addressed the denial of Modvat credit to the appellant for capital goods due to initial availing of depreciation under the Income Tax Act. Despite filing revised Income Tax Returns without the depreciation claim, the authorities rejected the claim. The Tribunal clarified that when revised Returns are filed without the claim of depreciation, it should be considered as if no depreciation was claimed. Relying on previous decisions, the Tribunal allowed the appellant's appeal, setting aside the impugned order and remanding the matter for a fresh decision based on the judgments cited, emphasizing the verification of non-claim of depreciation in the Income Tax Returns. Case-Laws Central Excise Tue, 14 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126536