https://www.taxtmi.com/caselaws?id=245739 The Appellate Tribunal CESTAT NEW DELHI ruled in favor of the appellant in a case concerning the interpretation of Rule 3(5) of the Cenvat Credit Rules, 2004. The Tribunal found that the un-amended rule did not explicitly mandate the straight-line method for calculating depreciation, contrary to the Commissioner (Appeals)'s observations. The subsequent amendment supporting the straight-line method did not invalidate the earlier rule. The Tribunal agreed with the appellant's interpretation that the reduction should be done only through the straight-line method. Additionally, the Tribunal supported the appellant's arguments on the time bar and revenue neutrality issues, unconditionally allowing the stay petition. en-us Fri, 09 Sep 2011 00:00:00 +0530 Sat, 05 Apr 2014 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245739 The Appellate Tribunal CESTAT NEW DELHI ruled in favor of the appellant in a case concerning the interpretation of Rule 3(5) of the Cenvat Credit Rules, 2004. The Tribunal found that the un-amended rule did not explicitly mandate the straight-line method for calculating depreciation, contrary to the Commissioner (Appeals)'s observations. The subsequent amendment supporting the straight-line method did not invalidate the earlier rule. The Tribunal agreed with the appellant's interpretation that the reduction should be done only through the straight-line method. Additionally, the Tribunal supported the appellant's arguments on the time bar and revenue neutrality issues, unconditionally allowing the stay petition. Case-Laws Central Excise Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245739