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2018 (6) TMI 191 - AT - Service TaxPhotography Services - benefit of the reduction of cost of materials - N/N. 2/2003 as amended - Held that:- The calculation as recorded by the first appellate authority and the reason as reproduced herein are as per the acceptable principles of the accountancy norms and has correctly arrived at the decision based on the materials consumed as reported in the balance sheet. CENVAT credit availed on the machinery procured by the appellant - depreciation - Held that:- Revenue has not been able to bring on record that the depreciation is claimed by appellant during the period in question, was inclusive of Central Excise Duty on which CENVAT credit has been availed - In the absence of any supportive evidence for argument of revenue, the first appellate authority was correct in extending the benefit of CENVAT credit to the appellant in respect of the machinery procured by them. Benefit of N/N. 12/03 - reduction of the cost of materials for arriving at the value of such service tax liability - Held that:- On perusal of amending notification No. 12/2004, it is found that the conditions for availing the benefit of N/N. 12/03 does not include non-availment of CENVAT credit on capital goods - the restriction is for non-availment of credit of duty paid on goods and materials sold and not on the capital goods - benefit allowed. Penalty u/s 78 - Held that:- It can be seen from the records that the demand is confirmed for the period 2001-02 to 2006-07 by invoking the proviso of Section 73 of the Finance Act, 1994, hence, the penalty imposed by the first appeallate authority under section 78 is correct - penalty upheld. Appeal dismissed.
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