2016 (2) TMI 864

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....r the Petitioner : Mr. Raja Kannen, Advocate For the Respondent : Mr. Ajay Saxena, Commissioner (A.R.) ORDER PER M.V. RAVINDRAN This appeal is directed against the Order-in-Appeal No. 5/2007 dated 31.1.2007. 2. Heard both sides and perused the records. 3. On perusal of the records, it transpires that the issue involved in this case is regarding valuation of machineries cleared by....

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.... that since the machineries were cleared to the job-workers, the appellant could not claim the depreciation to discharge the duty liability and issued a show-cause notice which was confirmed by the adjudicating authority after following the due process of law confirmed differential duty liability of Rs. 56,139/- and interest thereof and imposed penalty under Section 11AC of the Central Excise Act,....

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....ect for more than one reason. 4.1. Firstly, the machinery which has been manufactured by the appellant is said to be in the year 1996 and was put to use by the appellant in their factory premises is an accepted fact. The subject machines were sent out to job-workers in the year 2002-03 is also undisputed. The machinery being manufactured in the year 1996 was disputed by the first appellate auth....

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....quate depreciation may be given as per the rates fixed in letter F. No. 495/16/93-Cus-VI dated 26.5.1993, issued on the Customs side. 5. From the above, clarification, it is clear that if any capital goods on which Cenvat credit has been availed and put to use and subsequently removed, depreciation needs to be given as per the clarification of C.B.E.C. If that be so, in the case in had, such di....