2013 (11) TMI 1144

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....y M/s. Cadchem Laboratories Ltd. seeking waiver of pre-deposit and stay of recovery of duty amount of Rs.4,94,446/- and equal amount of penalties confirmed by Commissioner of Central Excise (Appeals). 2. In this case, original authority has confirmed the demand of Cenvat credit availed on the capital goods during the period final year 2005-2006 to 2008-2009 holding that appellant in addition to a....

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....espect of capital goods shall not be allowed in respect of that part of the value of capital goods which represents the amount of duty on such capital goods, which the manufacturer or provider of output service claims as depreciation under Section 32 of the Income Tax Act, 1961 (43 of 1961). 5. In the present case, the appellant has taken the depreciation of duty element of Rs. 4,94,446/- and als....