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2017 (10) TMI 645 - AT - Central ExciseSimultaneous availment of Depreciation and CENVAT credit - Held that: - since during the period 2000-2001 to 2004-2005, the appellants had been suffering heavy losses, which was much more than the depreciation, the depreciation did not affect the profitability and the same stood unabsorbed depreciation - Since there was no profit in the books of accounts of the appellant during the relevant period, the appellant did not avail double benefit i.e., Cenvat Credit as well as benefit of IT - appeal allowed - decided in favor of appellant.
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