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2018 (11) TMI 351 - AT - Central ExciseRecovery of CENVAT Credit availed - Rule 14 of the CCR 2004 - Appellant availed dual benefit i.e., CENVAT Credit of Excise Duty paid on the capital goods as well as depreciation on the Excise Duty paid on the capital goods under Section 32 of the Income Tax Act, 1961 - Held that:- The judgement of the jurisdictional High Court in the case of S.L. Lumax Ltd. [2016 (5) TMI 273 - MADRAS HIGH COURT] prevails, being a binding one, where it was held that The calculation of depreciation in so far as it relates to the duty component on which Modvat Credit had already been claimed, is certainly a tedious process. It does not mean that the appellant can have the licence to commit a mistake. However, since neither the adjudicating authority nor the Commissioner (Appeals) has given any finding on the acceptance or otherwise by the Income Tax authorities of the revised return claimed to have been filed by the appellant, a factual finding is required to be given. Matter is remanded back to the file of the adjudicating authority, the assessee-appellant directed to furnish revised return as well as income tax assessment Order based on its revised return to the satisfaction of the lower authority and the lower authority shall pass a fresh Order - appeal allowed by way of remand.
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