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2017 (2) TMI 1070 - CESTAT AHMEDABADCENVAT credit - whether the appellants are eligible to CENVAT credit on the goods received from M/s B.G. India Energy Services Pvt. Ltd. (known as M/s Gujarat Gas Co. Ltd.) under lease arrangement? - Held that: - the credit cannot be admissible on such capital goods on which depreciation has been claimed u/s 32 of the Income Tax Act, 1961. It is the capital goods which is eligible to depreciation and alternatively CENVAT Credit. The appellant had claimed that even if the lessor had availed depreciation, the CENVAT credit cannot be denied on such capital goods in the hands of lessee. The argument is fallacious inasmuch as the credit is allowed on the capital goods and not on qua manufacturer or lessor of the capital goods. Extended period of limitation - Held that: - the appellant has failed to establish that all the facts were communicated to the Department in 2008 and not suppressed - extended period of limitation has correctly invoked and the demand is not barred by limitation as claimed by the Appellant. Appeal dismissed - decided against appellant.
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