TMI Blog2017 (2) TMI 827X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of the same amount under the Income Tax Act, 1960 - Held that: - As per the submission of the learned Counsel and perusal of the Income Tax return and calculation chart of the depreciation, it appears that the appellants have not claimed the depreciation in respect of the amount of Modvat credit which they have availed - However, on going through the records, prima face appears that the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the Income Tax Act, 1960. The appellants being aggrieved by the order No.24/CEX/2003 dated 31/10/2003 filed an appeal before this Tribunal. This Tribunal vide order No.A/937 to 939/WZB/04-C-II dated 12/10/2004 remanded the matter to the original authority to verify whether the depreciation was waived by the appellants or otherwise. In the denovo adjudication order No.21/CEX/2005 dated 07/10/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ordingly, he submits that no depreciation was claimed in the respective years on the amount of Modvat credit. Therefore, the allegation in the show-cause notice itself is incorrect. On the query from Bench that whether this defence was taken by the appellants before the adjudicating authority. He fairly submits that this factual defence was not taken at both the stages, i.e. at the first adjudicat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oticed by the show-cause notice issuing authority nor the appellants made any submission at any stage. However, on going through the records, prima face appears that the appellants have not claimed the depreciation in the respective financial years, therefore, the entire allegation in the show-cause notice stands collapsed. However, these aspects of non-availment of depreciation in respect of Mo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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