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TMI Blog2023 (12) TMI 243X X X X Extracts X X X X X X X X Extracts X X X X ..... e books of account, in respect of value of any inputs, then the manufacturer or service provider, as the case may be, shall pay an amount equivalent to the Cenvat credit taken in respect of the said inputs. In the facts and circumstances of this case, there being no writing off or removal of inputs under the provisions of Rule 3(5B) of CCR, 2004, the same is not attracted - Appeal of Revenue dismissed. - MR. P.K. CHOUDHARY, MEMBER (JUDICIAL) AND MR. SANJIV SRIVASTAVA, MEMBER (TECHNICAL) Shri Sandeep Pandey, Authorised Representative for the Revenue Shri Suyash Agarwal, Advocate for the Respondent ORDER Vide the present Miscellaneous Application Respondent has filed photocopy of Balance sheet for the Financial Yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntral Excise Act, along with interest and penalty. 3. In response to show cause notice, the Respondent submitted reply on 22.09.2016 that as per their Company s policy, they provide for the slow moving stores and spare which are lying idle for certain period since past. The provision is not on account of obsolescence since the material is still usable and the same is still there in the inventory of the Respondent s company and is also physically available in the stores of the Company with the sole purpose that they are to be used in or in relation to the manufacture of their final product and that such use is in waiting. The purpose is just to give the true picture of the inventories as far as the amount is concerned. Also, on the face o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ortray that any provision of write off spare has been entered in the books. Appellate Authority also mentioned that audit team has audited the balance sheet in 2013 and nothing adverse has been noticed. The Appellate Authority set aside the Order-in-Original. The Revenue preferred appeal before the Tribunal on the ground that provisions for slow moving store spare in Balance sheet for Financial Year 2011-12, 2012-13, 2013-14 2014-15 is violative of Rule 3(5B) of Cenvat Credit Rules, 2004. 4. The Departmental Representative reiterates the grounds of appeal and submits that the impugned Order-in-Appeal passed by the Commissioner (Appeals) is erroneous, unwarranted and is fit to be set aside. He further prays that the appeal filed by Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot imply anything which is not expressed; it cannot import provisions in the statutes so as to supply any assumed deficiency. 8. The short issue involved in the present case is whether the Appellants are required to reverse the credit availed on inputs alleged to have been written off in their books of account in accordance with Rule 3(5B) of Cenvat Credit Rules, 2004. Before analyzing the issue it is worth mentioning the relevant Rule 3(5B) of the Cenvat Credit Rules, 2004 as was in force during the relevant time, which reads as follows:- Rule 3(5B) : If the value of any input or capital goods before being put to use on which CENVAT credit has been taken is written off fully or partially or where any provision to write of fully o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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