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2011 (4) TMI 1097 - AT - Central ExcisePenalty - on the ground that they had availed CENVAT credit on the capital goods and claimed depreciation under Section 32 of the Income Tax Act simultaneously - appellants filed revised income tax return and reversed the depreciation claimed by them – Held that:- error was bonafide and there was absolutely no intention to avail or take wrong credit, as soon as the omission was found, remedial steps were taken without any question, penalty on the appellant reduced from Rs. 5,00,000/- to Rs. 10,000/-
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