2005 (3) TMI 688

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....nt. [Order]. -  Heard both sides. 2.The issue involved is that of refund claim for Rs. 3,96,984/- got debited towards written off semi-finished goods in the books of account. The claim was made on realizing that the payment was made by mistake of law. 3.Initially the claimant had filed refund claim for Rs. 3,96,984/-, which was rejected by the then Dist. Commissioner vide Order-in-Origina....

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....ished products, but has reversed the Modvat credit involved in the said material, which they had taken on the inputs utilised towards the manufacturing of these intermediate materials". Further it is observed that "once these materials have been written off in terms of Board's Circular, equivalent Modvat credit needs to be reversed by them, which they have done and have no question of refund claim....