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Denial of CENVAT Credit Upheld Despite Revised Tax Return Reducing Depreciation Claim; Depreciation Initially Disqualifies Credit Eligibility.

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....CENVAT Credit - capital goods - The mere fact that they have availed depreciation disentitles them to credit. The subsequent filing of revised income tax return might have amounted to reduction of depreciation claim, but it does not make the original claim correct.....

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Denial of CENVAT Credit Upheld Despite Revised Tax Return Reducing Depreciation Claim; Depreciation Initially Disqualifies Credit Eligibility.