In the matter of Philips India Ltd. v. CCE, Vadodara reported in 2010 (261) E.L.T. 482 (Tribunal. – Ahmedabad) held in case appellant claimed depreciation is claimed in the income tax return 1996-1997 & 1997-1998 and the Income Tax Returns were filed, assessed and finalized by allowing depreciation. No revised return filed in income tax for above period. In subsequent returns of FY 1999-2000 assessee reversed the depreciation claimed during the years 1996-1997 & 1997-1998. Therefore, the appellants were barred from taking Modvat credit and the fact that they have reversed depreciation is of no use or help to them. Thus, credit not admissible in 1999-2000.