Cenvat reduced from asset value after capitalisation

I want confirm whether the below treatment is in line with the AS-10 & other AS.

Company capitalized factory building of Rs. 2 Crore on 31/03/2013 , afterwards on 30 Aug 2014 company received CENVAT credit of Rs. 4 lacs on the labour payments already added to the cost of asset. Now whether to treat this credit as a reduction from asset vaule or as other income. If we treat it as reduction from assets value then it means depreciation of 31-03-2013 was wrong.

thanks in advance