9911796707
TMI Blog2016 (12) TMI 1513X X X X Extracts X X X X X X X X Extracts X X X X ..... ng under Chapter Heading 25232940 & 25231000 of the Central Excise Tariff Act, 1985. They are availing the facility of cenvat credit under Cenvat Credit Rules 2004. During the course of audit of financial records of the assessee, the Accountant General's Audit Party observed that the appellant made a provision for obsolescence of stock of stores and spares in the Books of Accounts for the years 2007 & 2008, that the provisions made at the end of December 2009 is Rs. 78,09,412/- (Rupees Seventy Eight Lakhs Nine Thousand Four Hundred and Twelve only) and the assessee have not paid the amount equivalent to credit availed in the said items; that the bifurcation of cenvatable and non-cenvatable items were not forthcoming from the assessee. There ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3(5B) w.e.f. 11.05.2007. Further the provisions for reversal of credit for partial write off was also introduced subsequently vide amendment in Rule 3(5B) from 01.03.2011. He further submitted that the appellant has made the provisions to write off the input/capital goods, only in financial books and the input and capital goods are very much lying in the inventory at the time of provision and being used as and when required by the production team. He also submitted that the appellant has made provision to write off the value of inputs partially in their books of account for the obsolescence stock on store and spare parts in terms of the company policy. The company policy does not allow the appellant to make any provision to write off the ob ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned Commissioner with a direction to consider the documents and the worksheets and the policy of the company with regard to partial write off. Therefore I set aside the impugned order and remand the matter back to the learned Commissioner to decide the matter at de novo after considering the documentary evidence produced by the appellant. The learned Commissioner is directed to dispose of the case within a period of two months from the date of receipt of the certified copy of the order. Before disposing of the case, the learned Commissioner will afford an opportunity of hearing to the appellant and also an opportunity of producing any documents in support of his submission. With this the appeal is allowed by way of remand. (Operative porti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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