https://www.taxtmi.com/caselaws?id=238936 The Tribunal allowed the write-off of CENVAT credit as business expenditure under section 37(1) of the Income-tax Act. The unutilized credit was written off upon closure of the manufacturing unit, meeting the conditions of section 37(1). The Assessing Officer was directed to allow the claim of Rs. 35,94,577. The second ground of appeal was dismissed. The appeal was partly allowed in favor of the assessee. en-us Wed, 25 Apr 2012 00:00:00 +0530 Wed, 23 Oct 2013 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238936 The Tribunal allowed the write-off of CENVAT credit as business expenditure under section 37(1) of the Income-tax Act. The unutilized credit was written off upon closure of the manufacturing unit, meeting the conditions of section 37(1). The Assessing Officer was directed to allow the claim of Rs. 35,94,577. The second ground of appeal was dismissed. The appeal was partly allowed in favor of the assessee. Case-Laws Income Tax Wed, 25 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238936