2021 (6) TMI 398

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....rse of internal audit, and on scrutiny of the financial records for the year 2014-15 and 2015-16, it was observed that the appellant had purchased various capital goods during the year 2013-14 and 2014-15. Full invoice value including the Central Excise duty amount has been shown in the balance sheet for the year 2014-15 and the appellant had claimed depreciation of entire invoice value of capital goods as were purchased during the year 2013 -14. The appellant has also claimed 100% Cenvat Credit of capital goods on 31.07.2014. Vide show cause notice No. 2843 dated 22.06.2017, the department alleged that the appellant has taken the Cenvat credit of Rs. 7,45,626/- on the capital goods which were capitalised in the balance sheet at full invoic....

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....e order of Commissioner (Appeals) to be set aside and appeal to be allowed. 4. Per contra learned Authorised Representative has impressed upon the finding in para 9 of the order under challenge. Appeal is prayed to be dismissed. 5. After hearing both the parties and perusing the record, it is observed and held as follows: Following are the admitted facts (i) that the appellant had purchased various capital goods during the year 2013-14 and 2014-15. (ii) The appellant claimed the depreciation on entire invoice value including the excise duty as well. (iii) 100% CENVAT Credit on these capital goods has also been availed on 31.7.2014. 6. The rectification of alleged availment has been made in the balance sheet for the 2015-16. 7. It ....