https://www.taxtmi.com/caselaws?id=765373 The Court dismissed the appellant's appeal, affirming the decision of the Customs, Excise and Service Tax Appellate Tribunal. It held that the appellant violated Rule 4(4) of the CENVAT Credit Rules, 2004, by simultaneously claiming CENVAT Credit and depreciation on the same capital goods. The Court determined that filing revised income tax returns did not correct the violation, as the revised returns did not cover the relevant assessment years. Consequently, the CENVAT Credit was deemed inadmissible, and the appellant was liable for recovery of the credit and penalties. All pending applications were disposed of. en-us Tue, 28 Jan 2025 00:00:00 +0530 Fri, 31 Jan 2025 07:54:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765373 The Court dismissed the appellant's appeal, affirming the decision of the Customs, Excise and Service Tax Appellate Tribunal. It held that the appellant violated Rule 4(4) of the CENVAT Credit Rules, 2004, by simultaneously claiming CENVAT Credit and depreciation on the same capital goods. The Court determined that filing revised income tax returns did not correct the violation, as the revised returns did not cover the relevant assessment years. Consequently, the CENVAT Credit was deemed inadmissible, and the appellant was liable for recovery of the credit and penalties. All pending applications were disposed of. Case-Laws Central Excise Tue, 28 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765373