https://www.taxtmi.com/caselaws?id=115031 Modvat credit on inputs cannot be denied merely because the inputs were written off in the books of account or treated as obsolete. The Tribunal noted that there is no prescribed time limit for consumption of inputs and that credit cannot be disallowed on a presumption that the goods were not used in manufacture simply because they remained in the factory store-room. It also relied on earlier coordinate Bench decisions that had attained finality and found no reason to depart from that view. The result was that denial of Modvat credit was held unsustainable and the appeal succeeded. en-us Tue, 15 Feb 2005 00:00:00 +0530 Wed, 23 May 2012 12:06:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115031 Modvat credit on inputs cannot be denied merely because the inputs were written off in the books of account or treated as obsolete. The Tribunal noted that there is no prescribed time limit for consumption of inputs and that credit cannot be disallowed on a presumption that the goods were not used in manufacture simply because they remained in the factory store-room. It also relied on earlier coordinate Bench decisions that had attained finality and found no reason to depart from that view. The result was that denial of Modvat credit was held unsustainable and the appeal succeeded. Case-Laws Central Excise Tue, 15 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115031