https://www.taxtmi.com/caselaws?id=340356 Credit on capital goods was examined against the rule against double benefit where depreciation had also been claimed. The record indicated that the assessee had reversed the depreciation, including the amount relatable to the credit, in the income tax return, which would support admissibility of credit if verified. As the lower authorities had not properly examined the documents proving this factual position, the depreciation issue required fresh verification. The matter was remanded to the adjudicating authority for reconsideration, and credit would be admissible if the reversal of depreciation in the return was established. en-us Fri, 20 Jan 2017 00:00:00 +0530 Mon, 20 Mar 2017 11:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340356 Credit on capital goods was examined against the rule against double benefit where depreciation had also been claimed. The record indicated that the assessee had reversed the depreciation, including the amount relatable to the credit, in the income tax return, which would support admissibility of credit if verified. As the lower authorities had not properly examined the documents proving this factual position, the depreciation issue required fresh verification. The matter was remanded to the adjudicating authority for reconsideration, and credit would be admissible if the reversal of depreciation in the return was established. Case-Laws Central Excise Fri, 20 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340356