2013 (11) TMI 23

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..... he inputs on which the credit has been availed, are within the factory but the same are written off from the records, the credit is not required to be reversed - the revenue has not alleged any clandestine removal of the cenvatable inputs - the applicant has a good prima facie case so as to dispense with the condition of pre-deposit of duty and interest - Penalty and recovery stayed during the pen .....

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..... f Rule 3 (5) (B), which require reversal of Cenvat credit in respect of raw materials which were written off, was introduced with effect from 01.05.2007. There are number of decisions to the effect that as long as the inputs, on which the credit has been availed, are within the factory but the same are written off from the records, the credit is not required to be reversed. In the present case the .....

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