Hi Dee
If it still mentions the 'British' and 'Victory' - for British War Medal and Victory Medal - and there is no indication that they were also returned, then they must have discovered that he was not entitled to the 1914 Star, rather than he forfeited all his medals.
CRV = Certified Receipt Voucher, and is how they kept track of any returned medals. So there was a list, numbered CRV 33, dated - 8 (or is it 18?) of October 1919, which recorded the return of his 1914 Star.
"6 l/c Recs" will be "o i/c Recs", ie 'officer in charge (of) Records'.
The medals for WW1 were issued over a period of 2 or 3 years. This link gives the dates they were authorised, and how men qualified.
http://www.nationalarchives.gov.uk/documentsonline/medals.aspI would have to see the MIC to see if there is anything about him getting the 1914-1915 Star instead. Or there may be another MIC in his name. Is a date for 'entering theatre' given?
Somewhere in Kew is a 14 Star Roll, numbered '1HC/1/23' with a line through his name. It may or may not have a reason next to it. You will have to visit Kew to find out.
HC = Household Cavalry
Ken