https://www.taxtmi.com/caselaws?id=333712 The appeal was allowed by the Tribunal, which dismissed the Commissioner's findings and allowed the appellant to avail Modvat credit. The Tribunal emphasized that the appellant did not take double benefit, as the depreciation amount was reversed within the Income Tax time limit. The Tribunal relied on a judgment from the Hon'ble Gujarat High Court and distinguished other cited cases. As the Cenvat Credit amount was adjusted in the depreciation account, no additional recovery was ordered, leading to the dismissal of the appeal and no imposition of interest or penalty. en-us Fri, 30 Sep 2016 00:00:00 +0530 Mon, 28 Nov 2016 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333712 The appeal was allowed by the Tribunal, which dismissed the Commissioner's findings and allowed the appellant to avail Modvat credit. The Tribunal emphasized that the appellant did not take double benefit, as the depreciation amount was reversed within the Income Tax time limit. The Tribunal relied on a judgment from the Hon'ble Gujarat High Court and distinguished other cited cases. As the Cenvat Credit amount was adjusted in the depreciation account, no additional recovery was ordered, leading to the dismissal of the appeal and no imposition of interest or penalty. Case-Laws Central Excise Fri, 30 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333712