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2013 (10) TMI 663 - CESTAT NEW DELHIReversal of cenvat credit on removal of capital goods - Rule 3(5) - Method of Calculating Depreciation – Waiver of Pre-deposit - Whether during prior to 27.02.10 for calculating the depreciation @ 2.5% for each quarter of a year or part thereof only written down method could be adopted - The provisions of proviso to Rule 3(5) during the period prior to 27.02.10 cannot be interpreted on the basis of the wordings of the proviso as the same stood w.e.f. 27.02.10 - During period prior to 27.02.10, no method for calculating depreciation @ 2.5% per quarter on part thereof was prescribed, the same could be calculated by adopting any method - when two interpretation of statutory provision are equally possible, the interpretation which is beneficial to the Assessee which should be adopted - Prima facie during period prior to 27.02.10 also, straight line method must be adopted - The appellant therefore have strong prima facie case in their favour - The requirement of pre-deposit of Cenvat Credit demand, interest and penalty waived for hearing of the appeal and recovery stayed - stay granted.
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