9911796707
TMI Blog2014 (2) TMI 354X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be denied to the assessee for having failed to utilize the inputs for a long time or for having written off the value of the inputs in the books, when those had not been removed by them from the factory as such. In the case in hand, none of the conditions laid down in rule 57-F for denying modvat credit to the appellants, stands satisfied. Therefore, for merely writing off value of the inpu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uts. 2. Brief facts of the case are that the respondents are the manufacturer of excisable goods availing CENVAT credit on inputs. During the course of audit, it was found that in their Profit and Loss Accounts Balance Sheet - 31.03.2001 they have written off inputs. On the basis of the said audit report, a show-cause notice was issued to the respondent for reversal of CENVAT Credit availed on i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such input which has been written off as obsolete. Therefore impugned order is required to be set aside. It is further submitted that as the respondent closed the factory therefore, the inputs cannot be used any further for the manufacture of final product. Therefore the credit availed on inputs is required to be reversed. 5. None appeared on behalf of the respondent. 7. Considered the submiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the inputs in their books, they could not be denied the credits, when inputs were still lying in their factory premises. The case of the appellants also stands covered by the ratio of law laid down in identical case of Bharat Heavy Electricals Ltd. Vs. CCE Bangalore 2002 (50) RLT 208 and M/s. Hindustan Zinc Ltd. Vs. CCE Visakhapatnam (Final Order No. 1925-1628/2004 dated 19.10.2004) wherein s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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