2018 (5) TMI 813

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....adhwa : The appellants were denied the benefit of Cenvat Credit of duty paid on the capital goods on the ground that they have simultaneously availed depreciation in respect of the same, in terms of provisions of section 32 of the Income Tax Act. The original demand was to the tune of Rs. 18 lakhs. While adjudicating, a report of the appellants Range officer was procured which indicate that the ....