https://www.taxtmi.com/caselaws?id=53317 The Appellate Tribunal CESTAT, Mumbai allowed the appeal of the appellants regarding denial of Modvat credit and imposition of penalty. The Tribunal found that the appellants had not claimed depreciation in their revised Income-tax return, so they cannot be denied Modvat credit. The impugned order was set aside, and the appeal was allowed with consequential benefit. en-us Mon, 08 Mar 2004 00:00:00 +0530 Tue, 12 Oct 2010 16:01:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53317 The Appellate Tribunal CESTAT, Mumbai allowed the appeal of the appellants regarding denial of Modvat credit and imposition of penalty. The Tribunal found that the appellants had not claimed depreciation in their revised Income-tax return, so they cannot be denied Modvat credit. The impugned order was set aside, and the appeal was allowed with consequential benefit. Case-Laws Central Excise Mon, 08 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53317