https://www.taxtmi.com/caselaws?id=378702 The appellant was found not liable to reverse the CENVAT credit on raw materials shown as obsolete in the balance sheet. The Tribunal determined that the provisions made for obsolescence materials were for valuation purposes and were not actually written off as claimed by the Revenue. As the relevant period predated the amendment to CENVAT Credit Rules, the requirement for reversal of credit on written-off goods did not apply. The Tribunal dismissed the Revenue's allegations due to lack of evidence, setting aside the impugned order and allowing the appeal with appropriate relief. en-us Fri, 01 Mar 2019 00:00:00 +0530 Fri, 19 Apr 2019 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378702 The appellant was found not liable to reverse the CENVAT credit on raw materials shown as obsolete in the balance sheet. The Tribunal determined that the provisions made for obsolescence materials were for valuation purposes and were not actually written off as claimed by the Revenue. As the relevant period predated the amendment to CENVAT Credit Rules, the requirement for reversal of credit on written-off goods did not apply. The Tribunal dismissed the Revenue's allegations due to lack of evidence, setting aside the impugned order and allowing the appeal with appropriate relief. Case-Laws Central Excise Fri, 01 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378702