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recovery of expenditure

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(Querist)
10 March 2010 Sir, if cenvat credit of earlier years is taken in current year then will the amt. of cenvat credit availed be taxable as recovery of expenditure u/s 41(1) in the current year??
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shrikant

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shrikant (Expert)
10 March 2010 Dear Rahul

It's not taxable as per sec. 41(1). Hence don't worry

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