https://www.taxtmi.com/caselaws?id=213615 Premature availment of the full Cenvat credit on capital goods, where the remaining credit was otherwise admissible in the next financial year, was treated as an irregular timing issue rather than a ground for complete waiver of pre-deposit; the consequence was confined to interest for the period of wrongful availment and a partial deposit was required. A depreciation-based objection to the credit was not prima facie established because the assessee produced a Chartered Accountant's certificate and invoice-wise details showing depreciation was claimed only on the basic value and sales tax, not on excise duty. The stay was therefore granted only to the extent of the balance demand, interest and penalty after partial deposit. en-us Fri, 08 Apr 2011 00:00:00 +0530 Tue, 29 May 2012 08:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213615 Premature availment of the full Cenvat credit on capital goods, where the remaining credit was otherwise admissible in the next financial year, was treated as an irregular timing issue rather than a ground for complete waiver of pre-deposit; the consequence was confined to interest for the period of wrongful availment and a partial deposit was required. A depreciation-based objection to the credit was not prima facie established because the assessee produced a Chartered Accountant's certificate and invoice-wise details showing depreciation was claimed only on the basic value and sales tax, not on excise duty. The stay was therefore granted only to the extent of the balance demand, interest and penalty after partial deposit. Case-Laws Central Excise Fri, 08 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213615