2010 (2) TMI 1033

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....R The only dispute arose in this appeal is as to whether Cenvat credit on capital goods is admissible when order of rectification of mistake was passed by the Income tax Authorities revising depreciation on the impugned capital goods. 2. When adjudication was completed, the assessee-appellant was prevented to file the order of rectification dated 7-12-2006 led by the Income tax Authorities b....

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....h under the Income tax Act, 1961 as well as Cenvat Credit Rules, 2004. Order of Rectification of mistake has enabled the assessee in the present case to claim credit on capital goods. Such claim was considered by the Appellate Authority elaborately in his order. In absence of any evidence led by Revenue to show that the claim of appellant was deniable by learned Commissioner (Appeals), there was n....

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....rishna Spinners Ltd. of Chennai Bench was rendered on 8-7-2005. That decision has no taken into consideration the Division Bench decision in the case of Abhishek Synthetics Pvt. Ltd. which was rendered on 1-12-04. Similarly the decision of the Single Member Bench in the case of Standard Industries Ltd. was rendered on 14-10-2003 and that has also not taken into consideration the Division Bench dec....