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2016 (8) TMI 540 - CESTAT MUMBAICenvat credit - recovery of inadmissible credit - availed simultaneous Cenvat credit and depreciation under Income Tax Act, 1961 - impermissible in terms of Rule 4(2) and Rule 4(4) of the Cenvat Credit Rules, 2001 - Held that:- Rule 4(4) of Cenvat Credit Rules 2001/2002 has a clear provision that if the depreciation is availed under Section 32 of the Income Tax Act, 1961 in respect of the duty suffered on capital goods the Cenvat Credit of the said amount cannot be allowed. Therefore both the lower authorities have correctly held that the Cenvat Credit in respect of the duty on which depreciation was claimed, is not admissible. Period of limitation - Invokation of extended period of limitation - Held that:- the department was not aware about the simultaneous availment of depreciation as well as Cenvat Credit of the same amount of duty. Therefore there is a clear suppression of fact on the part of the appellant, therefore the demand is correctly raised by invoking extended period. - Decided against the appellant
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