https://www.taxtmi.com/caselaws?id=239967 Rule 4(4) of the Cenvat Credit Rules bars credit on the duty element of capital goods where depreciation is also claimed under section 32 of the Income-tax Act, 1961. The record showed that depreciation had been claimed on the duty component while the same amount of Cenvat credit was availed, and the amount was not reversed in the same financial year. As revised income-tax returns were not produced to support the claim, no strong prima facie case for complete waiver of pre-deposit was made out. Complete waiver was declined, and deposit of 50% of the duty amount was directed, with recovery of the balance stayed on compliance. en-us Tue, 21 May 2013 00:00:00 +0530 Sun, 24 Nov 2013 08:24:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239967 Rule 4(4) of the Cenvat Credit Rules bars credit on the duty element of capital goods where depreciation is also claimed under section 32 of the Income-tax Act, 1961. The record showed that depreciation had been claimed on the duty component while the same amount of Cenvat credit was availed, and the amount was not reversed in the same financial year. As revised income-tax returns were not produced to support the claim, no strong prima facie case for complete waiver of pre-deposit was made out. Complete waiver was declined, and deposit of 50% of the duty amount was directed, with recovery of the balance stayed on compliance. Case-Laws Central Excise Tue, 21 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239967