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2019 (4) TMI 17 - AT - Central ExciseCENVAT Credit - capital goods - the appellant claimed both CENVAT Credit and depreciation on the same goods including the CENVAT component - Rule 4(4) of CCR - Held that:- The mere fact that they have availed depreciation disentitles them to credit. The subsequent filing of revised income tax return might have amounted to reduction of depreciation claim, but it does not make the original claim correct and accordingly the demand is sustainable. However, in this case the demand has been dropped by the lower authorities which has not been appealed against by the department. Since there is no demand, any interest on a zero demand can only be zero. Penalty - Held that:- It is for the act of taking credit wrongly which is not in doubt - the penalty imposed under section 11 AC read with CCR 2004 is sustainable and needs to be upheld. Appeal allowed in part.
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