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2014 (7) TMI 68 - CESTAT MUMBAICENVAT Credit - Capital goods - availing depreciation while availing cenvat credit - Cenvat credit account unutilized - interest and equivalent amount of penalty - Held that:- As demand of duty and interest has not been disputed, demand of duty and interest are confirmed. With regard to the penalty as held by the Tribunal in Indian Leaf Springs Mfg. Co. (2013 (7) TMI 337 - CESTAT BANGALORE) wherein it was held that if Cenvat credit is taken and simultaneously depreciation is also claimed for income tax purposes, further the Cenvat credit lying in Cenvat credit account unutilized in that situation, mandatory penalty is not imposable. Therefore, following the decision of this Tribunal, I set aside the imposition of penalty in both cases against the appellants. - Decided in favour of assessee.
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