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2015 (4) TMI 311 - AT - Central ExciseSimultaneous availment of modvat credit as well as claiming depreciation under the Income Tax Act - lower appellate authority has remanded this aspect to the adjudicating authority for de novo adjudication - Held that:- respondents have not produced any new argument before the Commissioner (Appeals). On perusal of the adjudication order at para 15.4. the adjudicating authority has clearly brought out the facts of filing revised returns for the year 2001-02, 2001-02, 2002-03 & 2003-04. It was clearly brought out that respondent filed declaration under Rule 4 (4) of CCR that they have not claimed any depreciation wherein it has been clearly brought out that respondents have not claimed depreciation in their IT return for the year 2001-02 on that part of the value representing duty on the capital goods. These facts are clearly discussed by the adjudicating authority in his order. Therefore, it is evident that appellate authority remanded the case to the original authority only on the ground that respondents have filed revised returns without any discussion. Hon'ble Karnataka High Court in the case of Suprajit Engineering Ltd. (2010 (3) TMI 414 - KARNATAKA HIGH COURT) clearly held that once the assessed claimed depreciation under Income Tax Act, he is not eligible for cenvat credit even if they have filed revised returns. - Commissioner(Appeals) order to the extent of remanding to adjudicating authority on the issue of simultaneous availment of cenvat credit as well as claim of depreciation relating to the demand of ₹ 14,84,845/- is required to be set aside and the OIO is restored. - Decided in favour of Revenue.
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