TMI Blog2014 (8) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... - Revenue's argument to deny depreciation does not appear to be reasonable for the reason that depreciation is admissible once there was export obligation discharged even partly irrespective of quantum of export made in absence of any clause in the notification for disallowance against partly discharge of export obligation. Therefore there shall be allowance of depreciation on the capital goods im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he quantum of depreciation admissible keeping in view the mandate of circular issued by Board - Decided partly in favour of Revenue. - C/562/2009 - FINAL ORDER NO.52850/2014 - Dated:- 15-7-2014 - D N Panda And Manmohan Singh, JJ. For the Appellant : Shri Sanjay Jain, DR For the Respondent : None PER : D N Panda Revenue is precisely on the point whether depreciation is admiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le how that shall be calculated. 3. Respondent is absent. With the assistance of Revenue, appeal is decided on its own merit. 4. Notification No.95/93-Cus dated 2.3.1993 permits de-bonding of unit and levy of duty that was foregone on the depreciated value of capital goods which is covered by para 7 of the said notification. But Revenue disputes on the ground that there was no discharge of e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t shall be the quantum of depreciation. Ld.DR invited our attention to the Circular No.14/2004-Cus dated 13.2.2004. That circular says that in respect of clearance of capital goods by EOU/EHTP/STP units, depreciation at the rate of 20% per annum of the original value of computer and computer peripherals items and 10% depreciation per annum in case of other capital goods shall be admissible. Such m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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