2016 (8) TMI 1016

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....e appellant herein have availed the credit of Rs. 1,24,302/- on capital goods on 1.9.2006, 1.12.2006 and 1.4.2007. They have also availed depreciation under the Income Tax Act during the Assessment year 2007-08 & 2008-09.  Subsequently, the audit team detected irregularity and the appellant filed revised return for the assessment years 2007-08, 2008-09, 2009-10 and 2010-11 on 23.3.2011. The a....

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....;           (1)       CCE & Cus. Surat-II Vs Nish Fibres 2010 (257) ELT 81 (Guj.)             (2)       CCE Belgaum Vs Krishna Sahakari Sakkare Karkhane Niyamit - 2013 (288) ELT 513 (Kar.)        &n....

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....ommissioner (Appeals) and submits that decision of the tribunal in the case of Yee Kay Technocrat (P) Ltd. Vs CCE Delhi - 2011 (267) ELT 92 (Tri.-Del.) is squarely applicable to the facts of this case. The limitation has to be reckoned with reference to the obligation on the part of the assessee and date of detection by the department is not relevant either during the audit or otherwise. 5. In hi....

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....p; However, when this flaw was pointed out, the appellant has filed a revised return under the Income Tax Act and now there is only one benefit availed by the appellant.  I find that since the adjudicating authority in OIO No.44/2012 dt. 30.5.2012 has allowed the credit consequent to their filing of IT returns, this aspect is not gone into. The only aspect to be looked into is whether penalty....