2005 (1) TMI 175

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..... t of the impugned order vide which the Commissioner (Appeals) has allowed the Modvat credit to the tune of Rs. 10,33,233/- on the inputs the value of which had been written off in the books of account by the respondents but were still lying in their factory premises. 2. The learned JDR has contended that since the collaboration of the respondents with M/s. Honda Motors stood terminated, the use .....

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..... ts in the manufacture of goods; and secondly for having removed the inputs as such. The credit 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 57F for denying Modvat c .....

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