https://www.taxtmi.com/caselaws?id=258429 The Revenue's appeal against the Order-in-Appeal No.18/2007, concerning the simultaneous availment of cenvat credit and depreciation, was successful. The Tribunal set aside the remand order and restored the Original Order-in-Original, ruling that once an assessee claims depreciation under the Income Tax Act, they are not eligible for cenvat credit even if revised returns are filed. The decision was based on precedents from the Hon'ble Karnataka High Court and the Tribunal supporting this position. en-us Thu, 19 Mar 2015 00:00:00 +0530 Thu, 09 Apr 2015 06:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258429 The Revenue's appeal against the Order-in-Appeal No.18/2007, concerning the simultaneous availment of cenvat credit and depreciation, was successful. The Tribunal set aside the remand order and restored the Original Order-in-Original, ruling that once an assessee claims depreciation under the Income Tax Act, they are not eligible for cenvat credit even if revised returns are filed. The decision was based on precedents from the Hon'ble Karnataka High Court and the Tribunal supporting this position. Case-Laws Central Excise Thu, 19 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258429