https://www.taxtmi.com/caselaws?id=120913 Mere accounting write-off of inputs in the balance sheet does not require reversal of Modvat credit where the inputs remain in stock and continue to be used in manufacture. The Tribunal treated the write-off as a revaluation entry, not evidence that the inputs had ceased to exist or were removed from production, and held that a change in book value does not affect credit already lawfully availed. On that basis, reversal was not warranted and the demand was unsustainable. en-us Fri, 12 Jan 2007 00:00:00 +0530 Wed, 25 Jul 2012 13:18:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120913 Mere accounting write-off of inputs in the balance sheet does not require reversal of Modvat credit where the inputs remain in stock and continue to be used in manufacture. The Tribunal treated the write-off as a revaluation entry, not evidence that the inputs had ceased to exist or were removed from production, and held that a change in book value does not affect credit already lawfully availed. On that basis, reversal was not warranted and the demand was unsustainable. Case-Laws Central Excise Fri, 12 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120913