https://www.taxtmi.com/caselaws?id=208859 CENVAT credit on capital goods was considered inadmissible to the extent depreciation had been claimed under section 32 of the Income-tax Act, 1961. A revised return reducing the depreciation claim did not by itself establish that the disputed amount was revenue expenditure, because satisfactory documentary evidence was still required. The appellate authority had accepted the revised return without adequate reasons or evidentiary support. The appellate order was therefore set aside and the matter remanded for fresh verification and redetermination of the ineligible credit on the basis of evidence to be produced by the assessee. en-us Wed, 21 Sep 2011 00:00:00 +0530 Sat, 05 Dec 2015 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208859 CENVAT credit on capital goods was considered inadmissible to the extent depreciation had been claimed under section 32 of the Income-tax Act, 1961. A revised return reducing the depreciation claim did not by itself establish that the disputed amount was revenue expenditure, because satisfactory documentary evidence was still required. The appellate authority had accepted the revised return without adequate reasons or evidentiary support. The appellate order was therefore set aside and the matter remanded for fresh verification and redetermination of the ineligible credit on the basis of evidence to be produced by the assessee. Case-Laws Central Excise Wed, 21 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208859