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2016 (11) TMI 1285 - CESTAT HYDERABADCENVAT credit - job-work - capital goods - CENVAT credit on depreciation on the duty part of the value of capital goods - Held that: - The provision of Rule 4(4) of Cenvat Credit Rules, 2004 does not bar the assessee form taking cenvat credit on capital goods in the subsequent year after availing benefit of depreciation under IT Act in the year of receipt of capital gods. The respondent has earned credit of ₹ 17,07,038/- in the year of receipt of capital goods. He would be eligible for credit of 50% in the same year and the balance 50% can be availed in the subsequent year. In that case, the contention of department that the respondent can avail only 50% of the balance of ₹ 12,32,337/- in the subsequent year, lacks legal basis - CENVAT credit allowed - decided in favor of respondent-assessee.
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