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2016 (7) TMI 592 - CESTAT KOLKATA

2016 (7) TMI 592 - CESTAT KOLKATA - TMI - Cenvat Credit on capital goods - claiming depreciation under the Income Tax Law - Appellant relied upon the Chartered Accountants Certificate to argue that calculation made in the show cause notice and confirmed has been wrongly arrived at - Held that:- As this issue of miscalculation/wrong calculation was not raised before the lower authorities, therefore, the case is required to be remanded to the adjudicating authority for verifying the claim of the A .....

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dit Rules were abundantly clear then Appellant cannot claim ignorance of law for not imposing penalty. Accordingly penalty has been correctly imposed upon the Appellant. However, looking to the fact that the quantification of correct demand is required to be worked out by the Adjudicating Authority under this order, the amount of penalty on such re worked amount will be required to be calculated and Appellant will be entitled to option to pay 25% of such reduced penalty on the redetermined amoun .....

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spect to Order-in-Appeal No. 30/Kol-V/2011 dated 02.03.2011 passed by the Commissioner of Central Excise,(Appeals-I), Kolkata. 2. Sri B.N.Pal, Advocate appearing on behalf of the Appellant argued that the issue involved before the lower authorities was simultaneous availement of Cenvat Credit on capital goods and also claiming depreciation on the value of the same capital goods for the financial year 2006-2007 and 2007-2008 under Income Tax Law. That the same has been decided against the Appella .....

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rtment. Ld. Advocate relied upon Chartered Accounts Certificate dated 05.07.2013 in support of his argument that the depreciation has been wrongly calculated. 3. On the issue of penalty it was the case of the Appellant that once Cenvat Credit wrongly taken was reversed then no penalty is attracted under Rule 15(2) of the Cenvat Credit Rules, 2004 read with section 11AC of the Central Excise Act, 1944. 4. Sri S.S.Chatterjee, Suptd.(AR) appearing on behalf of the Revenue argued that methodology fo .....

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red Accountants Certificate to argue that calculation made in the show cause notice and confirmed has been wrongly arrived at. As this issue of miscalculation/wrong calculation was not raised before the lower authorities, therefore, the case is required to be remanded to the adjudicating authority for verifying the claim of the Appellant. Appellant should also produce all the relied upon documents, including chartered accounts certificate produced before this bench. Needless to say that a person .....

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