https://www.taxtmi.com/caselaws?id=375128 The appeal was filed challenging the calculation of depreciation on capital goods for availing cenvat credit under the Cenvat Credit Rules, 2004. The appellant successfully argued that the depreciation should be based on the amount of credit availed till the clearance of capital goods by reducing the credit at a specified rate per quarter. The Member (Judicial) found the appellant had properly followed the prescribed procedure and set aside the demand for recovery, emphasizing the importance of accurate computation and adherence to the rules. The decision favored the appellant, overturning the previous order and highlighting the significance of legal interpretation in cenvat credit matters. en-us Tue, 29 Jan 2019 00:00:00 +0530 Fri, 15 Feb 2019 08:05:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375128 The appeal was filed challenging the calculation of depreciation on capital goods for availing cenvat credit under the Cenvat Credit Rules, 2004. The appellant successfully argued that the depreciation should be based on the amount of credit availed till the clearance of capital goods by reducing the credit at a specified rate per quarter. The Member (Judicial) found the appellant had properly followed the prescribed procedure and set aside the demand for recovery, emphasizing the importance of accurate computation and adherence to the rules. The decision favored the appellant, overturning the previous order and highlighting the significance of legal interpretation in cenvat credit matters. Case-Laws Central Excise Tue, 29 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375128