*Issue:* *Whether the partial write-down of slow-moving inventory in the books of accounts requires the reversal of Cenvat credit.* *Facts:* Appellant made provisions for partial write-down of slow-moving inventory per *Accounting Standard-2*, without writing off or discarding the inventory. The department issued show cause notices alleging that such provisions amounted to a write-off, triggering reversal of credit under Rule 3(5B). The appellant argued that the inventory remained available and usable in manufacturing, and no actual write-off occurred. *Held:* Rule 3(5B) applies only when inventory is *fully or partially written off* or a provision for write-off is made. In this case, the appellant only *wrote down the inventory value*, *not written it off* or removed it from books. No evidence suggests the inventory was discarded or obsolete. The demand for credit reversal is unsustainable. The impugned order is set aside, and the appeal is allowed. *Citation*: 2025-TIOL-231-CESTAT-KOL *Appellant*: Steel Authority of India Ltd