Commissioner of Central Excise and Customs Versus Genus Electrotech Limited (Gujrat High Court)

The respondent can reverse the CENVAT credit availed on capital goods treating it as undesirable credit to claim depreciation under Section 32 of the Income Tax Act, 1962, and pay duty from PLA otherwise payable after exhausting CENVAT Credit balance thereby claiming refund of the same under Notification No.39/2001-CE dated 31.07.2001. IN THE HIGH COURT OF GUJARAT AT AHMEDABAD TAX APPEAL No. 1815 of 2009 Commissioner of Central Excise and Customs – Appellant(s) Versus Genus Electrotech Limited – Opponent(s) MR YN RAVANI for Appellant(s): 1, None for Opponent(s) : 1...