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2012 (12) TMI 260 - CESTAT, NEW DELHICenvat credit – alleged that appellants had not reversed the cenvat credit on the inputs so shown as written off in their balance sheet – Held that:- It is not Revenue’s case that the inputs were cleared from the factory. Merely because the same were written off in the books of account and the value shown as nil, by itself, cannot be considered to amounting to removal of the inputs from the factory premises in the absence of any evidence to that effect - inputs were still in their possession. Revenue has not rebutted the above submission of the appellant and there is no allegation or finding that the inputs stand cleared from the factory - Cenvat Credit Rules, 2004 were amended on 16-5-2005 - The question whether this new provision will apply for inputs written off prior to 16-5-2005 was examined by the Mumbai High Court in the case of CCE v. Hindalco Industries Ltd. - [ 2011 (6) TMI 662 - BOMBAY HIGH COURT] and held that the provisions cannot be invoked in such a situation.
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