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2017 (2) TMI 1043 - AT - Central ExciseCENVAT credit - denial on the ground that the said quantity of Furnace Oil had been used in the fabrication of fixed assets - Held that: - As per Accounting standard, for any new project whatever expenses are incurred are to be capitalized and shown in the balance sheet as fixed assets. On basis of merely information indicated in the books of accounts of the respondents, it can not be conclusively said that cenvatable Furnace oil has been utilized for setting up of fixed immovable structures - appeal rejected - decided against Revenue.
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