https://www.taxtmi.com/caselaws?id=189130 Cenvat credit on the excise duty element of capital goods is inadmissible if depreciation has actually been claimed on the same amount under section 32 of the Income-tax Act, 1961. The controlling issue here was factual verification: whether depreciation had in fact been claimed, and whether the assessee's later explanation, audited accounts and Chartered Accountant's certificate were properly examined. The record showed that the lower authorities relied on initial material without adequately testing the subsequent documentary evidence, leaving the factual contradiction unresolved. The matter therefore required fresh adjudication after proper verification of the accounts and supporting records. en-us Mon, 22 Feb 2016 00:00:00 +0530 Thu, 29 Dec 2016 10:01:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189130 Cenvat credit on the excise duty element of capital goods is inadmissible if depreciation has actually been claimed on the same amount under section 32 of the Income-tax Act, 1961. The controlling issue here was factual verification: whether depreciation had in fact been claimed, and whether the assessee's later explanation, audited accounts and Chartered Accountant's certificate were properly examined. The record showed that the lower authorities relied on initial material without adequately testing the subsequent documentary evidence, leaving the factual contradiction unresolved. The matter therefore required fresh adjudication after proper verification of the accounts and supporting records. Case-Laws Central Excise Mon, 22 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189130