2005 (1) TMI 275

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..... dvat credit in respect of inputs received for the manufacture of automobiles. In the present proceedings, credit taken has been disallowed on the ground that certain inputs have been written off in the balance sheet. 2. The contention of the assessee is that the inputs in question are still in stock and denial of credit of demand of duty cannot arise in such a case and that mere writing off in t .....

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..... Chartered Accountant. 4. Since the inputs in question are available with the assessee, the decision in the case of Bharat Heavy Electricals Ltd. applies to the present case. Accordingly, the appeal is allowed after setting aside the impugned order. We, however, make it clear that revenue is at liberty to raise fresh demand in the event of inputs being removed or being not available. (Dictated .....

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