https://www.taxtmi.com/caselaws?id=179557 Before insertion of Rule 5B of the Cenvat Credit Rules, 2004, mere partial or full write-off of inputs in annual accounts, without removal from the factory, did not require reversal of Cenvat or Modvat credit; accounting reduction in book value by itself did not create excise liability, and the demand on that basis was set aside. The duty demand relating to 504 personal computers was sustained because the discrepancy with RG-1 records was not reconciled on the material produced. The demand on OMC computer systems was also sustained because the claim of differential duty payment was not supported by adequate documentary proof. en-us Wed, 27 May 2015 00:00:00 +0530 Fri, 04 Mar 2016 11:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179557 Before insertion of Rule 5B of the Cenvat Credit Rules, 2004, mere partial or full write-off of inputs in annual accounts, without removal from the factory, did not require reversal of Cenvat or Modvat credit; accounting reduction in book value by itself did not create excise liability, and the demand on that basis was set aside. The duty demand relating to 504 personal computers was sustained because the discrepancy with RG-1 records was not reconciled on the material produced. The demand on OMC computer systems was also sustained because the claim of differential duty payment was not supported by adequate documentary proof. Case-Laws Central Excise Wed, 27 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179557