2015 (4) TMI 311

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....ing the appeal, I proceed to take up the appeal for hearing and decision on merits. 3. The brief facts of the case are that adjudicating authority confirmed the demand of Rs. 16,82,086/- as ineligible cenvat credit with interest and imposed penalty equal to the demand under Rule 13 of Cenvat Credit Rules, 2002 read with Section 11AC of the Central Excise Act. He also imposed penalty of Rs. 1 lakh under Rule 13 of CCR 2002. On appeal by the respondent-assessees, the lower appellate authority vide impugned order partly upheld the order to the extent of Rs. 1,97,241/- cenvat credit availed on the capital goods and a penalty of Rs. 98,620/- in respect of simultaneous availment of cenvat credit and depreciation from Income Tax on the ground tha....

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.... the ground that respondent filed revised returns for the years 2000-01, 2001-02 and 2002-03. On perusal of the OIO, it is clear that respondents have not produced any new argument before the Commissioner (Appeals). On perusal of the adjudication order at para 15.4. the adjudicating authority has clearly brought out the facts of filing revised returns for the year 2001-02, 2001-02, 2002-03 & 2003-04. It was clearly brought out that respondent filed declaration under Rule 4 (4) of CCR that they have not claimed any depreciation wherein it has been clearly brought out that respondents have not claimed depreciation in their IT return for the year 2001-02 on that part of the value representing duty on the capital goods. These facts are clearly ....