Cenvat Credit

CESTAT MUMBAI BENCH

COMMISSIONER OF CENTRAL EXCISE

v.

BAJAJ AUTO LTD.

M.V. Ravindran, Judicial Member

Order No. A/925/C-IV/SinB/2007

Appeal No. E/1835/06

June 11, 2007

Rule 3 of the Cenvat Credit Rules, 2004 - Cenvat credit -Assessee availed Cenvat credit on capital goods which were procured by it - It had also claimed depreciation of amount of credit availed by it as Cenvat with Income-tax authorities - Subsequently, assessee filed revised income-tax return by reducing claim to extent of credit availed on capital goods - Revenue, however, disallowed Cenvat Credit on ground that respondent was not eligible to avail credit of amount of excise duty as it had claimed depreciation under Income-tax Act on said amount - On appeal, Commissioner (Appeals), held that credit so availed was admissible to assessee - Whether impugned order of Commissioner (Appeals) was well reasoned and did not require any interference - Held, yes [Para 4]