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2012 (11) TMI 516 - CESTAT, NEW DELHIDebonding of 100% EOU – depreciation on capital goods - duty is to be paid on the capital goods on the depreciated value - whether the depreciation is to be calculated as per the provisions of Notification No. 52/2003-C.E., or as per the provisions of Notification No. 53/97-Cus. In this case, the Commissioner has calculated the quantum of depreciation as per the provisions of Notification No. 52/2003-Cus. holding that it is the provisions of this Notification, which would be applicable – Held that:- Since the goods had been imported during June 1997 - July 1998 period by availing exemption under Notification No. 53/97-Cus., dated 3-6-1997, it is the provisions of this Notification, which would be applicable for determining the quantum of depreciation available to the appellant - In terms of para 5(a) of this Notification, the duty on the used capital goods at the time of debonding is payable on the depreciated value at the rate in force on the date of payment of duty and in terms of explanation to para 5(a) of the Notification, the depreciation is to be allowed for the period from the date of commencement of commercial production upto the date of payment of duty - matter has to be remanded to the Commissioner for re-quantification of the duty demand Penalty under Section 117 of Customs Act and Rule 26 of the Central Excise Rules, 2001/2002 - DTA clearances were in excess of the prescribed limit of 5% of export turnover and that they did not give intimation to the Department regarding their export performance – Held that:- Penalty on the Managing Director and Director cannot be imposed under Section 117 of Customs Act, 1962 and Rule 26 of Central Excise Rules - matter is remanded to the Commissioner for de novo adjudication for the purpose of re-quantification of the duty demand
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