https://www.taxtmi.com/caselaws?id=34478 Mere write-off of inputs and spares in the accounts does not by itself require reversal of Cenvat credit when the goods continue to remain in the factory and are capable of future use. The write-off was only a balance-sheet entry, with no finding of removal, destruction, deterioration, or incapacity for use. The later introduction of Rule 5B of the Cenvat Credit Rules, 2004 was subsequent and did not apply to the period in dispute. On these facts, the credit was not reversible and the related penalty and duty demand were unsustainable. en-us Thu, 25 Sep 2008 00:00:00 +0530 Thu, 03 Sep 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34478 Mere write-off of inputs and spares in the accounts does not by itself require reversal of Cenvat credit when the goods continue to remain in the factory and are capable of future use. The write-off was only a balance-sheet entry, with no finding of removal, destruction, deterioration, or incapacity for use. The later introduction of Rule 5B of the Cenvat Credit Rules, 2004 was subsequent and did not apply to the period in dispute. On these facts, the credit was not reversible and the related penalty and duty demand were unsustainable. Case-Laws Central Excise Thu, 25 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34478