2021 (6) TMI 398

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....ngot and aluminium dross. During the course 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 capital....

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....6) ELT 263 (Tri-Chennai)] and has prayed that the 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 al....