TMI Blog2018 (5) TMI 206X X X X Extracts X X X X X X X X Extracts X X X X ..... uantity is found useable, the same is written back in the books of account. If at all there is any case of payment of cenvat credit it should be on the net quantity to written off after adjusting the written back quantity - the adjudicating authority must re-quantify the actual credit to be reversed on net written off quantity after adjusting the written back quantity. Appeal allowed by way of remand. - E/87614 /2015, 87443,87444 & 87170/2016 - A/86049-86052/2018 - Dated:- 17-4-2018 - Shri Ramesh Nair, Member (Judicial) Shri Rajesh Ostwal, Advocate for Appellant Shri S.V. Nair, Assistant Commissioner (A.R) for respondent The brief facts of the case are that during audit of the records of the appellant it was observed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant have written back some quantity, therefore to that extent there should not be any demand of Cenvat credit. As regard the Revenue s appeal, he submits that the Ld. Commissioner has rightly dropped the demand in respect of opening balance of obsolescence as that the opening balance consist of written of quantity of the previous period whereas the show cause notice did not cover that previous period, therefore the demand dropped by the Commissioner is correct. 3. Shri S. V. Nair, Ld. Asstt. Commissioner (A.R.) appearing on behalf of the revenue reiterates the findings of the impugned order in as much as the Ld. Commissioner upheld the demand. As regards the Revenue s appeal he reiterating the grounds of Revenue s appeal submits that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recovery of CENVAT credit wrongly taken. From the above provision, it is clear that as and when assessee write s off the quantity of inputs on which the Cenvat Credit was taken, he is required to reverse an amount equivalent to cenvat credit taken in respect of the inputs which has been written off in the books of account. Therefore in principle on the quantity of inputs written off in the books of account, cenvat credit is required to be reversed. However in the present case, there is a submission of the Ld. Counsel that they are not only writing off the inputs but as and when the written off quantity is found useable, the same is written back in the books of account. If at all there is any case of payment of cenvat credit it should be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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