Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2014 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (3) TMI 91 - AT - Central ExciseGoods cleared "as such" - Inputs were written off as obsolete in the books of accounts and they cleared after paying duty on these goods on transaction value - Commissioner dropped SCN - Held that:- Inputs were reduced to the value of 5%/10% of the actual value but not less than 5% actual value at the time of writing off in the books of accounts which shows that the inputs were not absolutely held obsolete. Therefore, the provisions of paragraph 3(iii) of Circular dated 16.7.2002 is not applicable as the same is applicable for inputs which has been written off for fully. - para 3.2 of the Circular dated 16.07.2002 is relevant to the facts of this case and I also find that this facts were in the knowledge of the department that the inputs which has been written off in the books of accounts by the respondents are to be treated as auction sale and on this auction sale amount, they are paying duty. Therefore, as per the Circular dated 16.07.2002, they have discharged the duty liability and the same has been considered by the learned Commissioner in the impugned order - Therefore, the learned Commissioner, rightly dropped the show-cause notice - Decided against Revenue.
|