2014 (7) TMI 68

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....ned order for setting aside the penalty confirmed against them. 2. The brief facts of the case are that appellant procured capital goods during the year 2007-08 and taken the Cenvat credit of duty paid thereon. Simultaneously, they claimed deprecation for Income Tax purpose. As per Rule 4(4) of CENVAT Credit Rules, 2004, the appellant is not entitled to take Cenvat credit of the duty paid on ca....

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....ved as per the decision of the Tribunal in Indian Leaf Springs Mfg. Co. P. Ltd. vs. CCE.-2013 (7) TMI 337 - CESTAT BANGALORE 4. Heard the counsel. As demand of duty and interest has not been disputed, demand of duty and interest are confirmed. With regard to the penalty as held by the Tribunal in Indian Leaf Springs Mfg. Co. (supra) wherein it was held that if Cenvat credit is taken and simulta....