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2017 (9) TMI 1246 - AT - Central ExciseWrite off of value of inputs - Rule 3 (5B) of the Cenvat Credit Rules, 2004 - case of Revenue is that appellant had written off the value of inputs at the time of annual stock taking, but did not reverse the amount of CENVAT credit for the period 31.12.2004 and for the year 2005-06 on the said inputs - Held that: - Rule 3 (5B) was inserted in the statute by N/N. 26/2007-CE(NT) dated 11.05.2007 - The present case relates to the period 2005-06, prior to the insertion of Rule 3 (5B) in the statute. The Hon’ble Gujarat High Court in the case of Commissioner of Central Excise Vs. Ingersoll Rand (India) Ltd. [2013 (2) TMI 32 - GUJARAT HIGH COURT] observed that there was no authority of the reversal of MODVAT Credit in cases which are covered prior to introduction of Rule 3 (5B) of Cenvat Credit Rules, 2004. Appeal dismissed - decided against Revenue.
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