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2017 (12) TMI 1201 - CESTAT MUMBAIReversal of CENVAT credit - Rule 3(5B) of the CCR 2004 - bushes used for the manufacture of finished goods which would lose value during the use and were required to refurbish from time to time - Held that: - reliance placed in the case of COMMISSIONER OF CENTRAL EXCISE Versus INGERSOLL RAND (INDIA) LTD. [2013 (2) TMI 32 - GUJARAT HIGH COURT], where it was held that There is significant difference in the accounting approach for the income-tax purpose and the approach for stock maintenance for the purpose of manufacturing activities relevant for the question of excise. Merely because the value of goods diminished in the books of accounts of the assessee would not by itself permit the Department to insist on reversal of the credit particularly when such goods were still available in the factory in usable condition. Relying on the aforesaid decision of Hon'ble High Court Appeal no.E/86187/17 is allowed - In respect of Appeal no.E/86188/17 Commissioner (Appeals) has not given any finding on the issue in dispute. The matter is remanded to the Commissioner (Appeals) for decision on the issue covered in the dispute. Appeal allowed in part and part matter on remand.
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