TMI Blog2019 (10) TMI 1403X X X X Extracts X X X X X X X X Extracts X X X X ..... s services could be availed later also. The counter claim of the assessee is that since it realized that the said input could not be set off hence, the claim made in the books of accounts, merits to be allowed in the hands of the assessee. We are of the view that the assessee is at liberty to make the aforesaid claim in the year of its choice and the claim made in the year under consideration, merits to be allowed in the hands of the assessee. We find that the said issue has been decided by the various benches of Tribunal including the decision of Hyderabad Bench of the Tribunal in the case of M/s. NCS Distilleries P.Ltd [ 2014 (9) TMI 1160 - ITAT HYDERABAD ]. We hold that the write off of Cenvat credit is an allowable expenditure u/s 37( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the government account. He thus observed that the transaction would not entitle the same as allowable deduction under the Income tax Act. He thus disallowed the sum of ₹ 22,73,576/- and added the same in the hands of the assessee. The CIT(A) noted and observed as under:- W.e.f 1st March 2015, time limit for availment of Cenvat Credit has been extended to one year from the date of invoice. This implies that Cenvat credit on inputs and input services which could be earlier (as provided for w.e.f. 01.09.2014) availed within the period of six months from the date of invoice can now (w.e.f. 1.3.2015) be availed within a period of one year from the date of invoice. 4.4. .. 4.5. The same has been pronounced in follow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DR for the Revenue on the other hand pointed out that for services rendered, service tax was recoverable and the set off against service tax paid could be claimed in subsequent years. 7. We have heard the rival contentions and perused the record. The limited issue arising in the present appeal is against the claim of deduction on account of the service tax paid in the earlier years, but debited during the year. The case of the assessee before us is that the assessee was engaged in the manufacturing of auto parts and on the inputs i.e. raw material service tax was paid by it which in turn could be set off against the service tax receivables. The assessee had not debited the said service tax paid in the relevant year, as the assessee thou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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