2001 (11) TMI 780

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....Respondent. [Order per : Jeet Ram Kait, Member (T)]. -  In this case there is a delay of one day because of the illness of the Accountant and the same is accepted and the delay is condoned. 2. The stay petition and the appeal are also taken up together as the issue has already been decided in assessee's favour by Western Region Bench, Mumbai in the matter of Terna Shetkari Sahak....

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....e of Terna Shetkari Sahakari Sakhar Karkhana Ltd. v. CCE, Aurangabad (supra) in which it has been held that if the revised returns excluding that part of value filed and accepted by Income-tax Department, then mere filing of return claiming depreciation on total value is not sufficient to disallow credit, particularly in view of wordings of Rule 57R(5) and the amendment to Section 43(1) of the Inc....

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....ion that this matter requires fresh appreciation of facts in the light of the judgment rendered by the co-ordinate bench in the case of Terna Shetkari Sahakari Sakhar Karkhana Ltd. v. CCE, Aurangabad (supra) delivered by the Mumbai Bench, in which it has been held that if the revised returns excluding that part of value filed and accepted by Income-tax Department, then mere filing of return claimi....