2013 (2) TMI 545

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....ndent Rep by: Mr R.K. Singla, Commissioner (AR) Per: M. Veeraiyan: Heard both sides on the stay petition. 2.1. The appellant having taken CENVAT credit on inputs have created a reserve on a monthly basis for slow moving inventory as well as for excess inventory. This has been done in terms of their corporate policy. The quantity of inputs/value of the inputs relating to slow moving catego....

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....y as above, substantial goods have been dereserved and put to use. Only a small portion of the goods were not used when the show cause notice was received by them and that the credit involved on such inputs amounting to Rs.19,65,280/- was paid by them. Even the goods in respect of which credit was reversed were not written off and mostly they are usable. Therefore, he submits that the presumption ....