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2017 (7) TMI 193 - AT - Central ExciseCENVAT credit - written off part of the value of the inputs - Held that: - as regard the written off input it is established that firstly the goods in respect of which the value was written off was available in the factory. Therefore the reversal of CENVAT Credit was not required - there was no statutory provision for reversal of credit on the inputs which is written off shown in the books of accounts at the material time said provisions was inserted in Rule 3 by sub-rule (5B) only w.e.f. 11.5.2007 vide amendment N/N. 26/2007-CE (NT) dt. 11.5.2007 - the Hon’ble Bombay High Court in the case of Indian Petrochemicals Corpn. Ltd. [2007 (8) TMI 359 - HIGH COURT OF JUDICATURE AT BOMBAY] held that CENVAT credit in respect of the written off input service is not required to be reversed. As regard the physical verification, the appellant have made a categorical submission write from the audit stage to the audit officer and also before the Jurisdictional Departmental Officer that this is related to the shortage of finished goods found during movement between the factory and the depot - as regard the demand related to the physical verification difference the matter is remanded to the original adjudication authority to reconsider this issue. Appeal allowed - decided partly in favor of appellant and part matter on remand.
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