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2017 (4) TMI 86 - CESTAT KOLKATAReversal of CENVAT credit - Write off of stock of stores, spares and tools - Held that: - the issue is no more res-integra. In CCE, Navi Mumbai vs. Hindalco Industries Ltd. [2011 (6) TMI 662 - BOMBAY HIGH COURT], where the Hon’ble High Court has observed that since the issue relates to a period prior to the amendment of Rule-3 by insertion of sub-rule 5B & 5C, decided in favor of the assessee - since there was no provision under the Modvat credit already taken under Rules, 1994 that the assessee could not be directed to simply reverse the input goods because the same were not utilized for a certain period of time - appeal allowed - decided in favor of appellant.
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