https://www.taxtmi.com/caselaws?id=122378 Cenvat credit on capital goods cannot be denied merely because the goods were written off in the balance sheet, where they are stated to have remained in the factory and been used in manufacture of excisable goods. The accounting treatment was treated as irrelevant to credit entitlement, which depends on the actual use of the capital goods in the factory rather than their book value. On that prima facie view, the challenged order was considered inconsistent with settled Tribunal practice, and recovery was stayed until disposal of the appeal. en-us Wed, 30 May 2007 00:00:00 +0530 Mon, 13 Aug 2012 13:01:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122378 Cenvat credit on capital goods cannot be denied merely because the goods were written off in the balance sheet, where they are stated to have remained in the factory and been used in manufacture of excisable goods. The accounting treatment was treated as irrelevant to credit entitlement, which depends on the actual use of the capital goods in the factory rather than their book value. On that prima facie view, the challenged order was considered inconsistent with settled Tribunal practice, and recovery was stayed until disposal of the appeal. Case-Laws Central Excise Wed, 30 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122378