CENVAT Credit Reversal Not Applicable: Rule 3(5)(B) Inapplicable Due to Partial Inventory Write-Off in Balance Sheet.

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....Reversal of CENVAT Credit - creation of provisions in the balance sheet for the old and slow-moving inputs - On perusal of the balance sheet, it can be seen that the appellant has not fully written off the value of inventory - It is very evident from the balance sheet that the value of the inputs has not been fully written off. In such circumstances, Rule 3(5)(B) does not apply for the disputed period. - AT....