2006 (4) TMI 545

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Sr.Adv. with Mr.S.Sukumaran, Mr.A. Deb Kumar, Ms.Kavita Jha, Advs. O R D E R ADMIT. The following substantial questions of law are formulated for determination : i. Whether the Tribunal is right in law in holding that unutilized MODVAT credit of earlier years amounting to ₹ 77,55,78,738/- adjusted in the assessment year in question should be treated as actual payment of excise duty u/....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al is right in holding that customs duty of ₹ 2.99 crore paid on 28.4.1999 can be capitalised with retrospective effect and depreciation should be calculated by including the said amount in the Year 1999-2000? vi. Whether the Tribunal has correctly interpreted Section 14A of the Income Tax Act and is right in holding that onus under the aforesaid section is upon the Revenue and not on asse....