TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Dispute over Cenvat credit denial & duty on destroyed goods, waiver granted, case set for hearing</h1> The case involved the denial of Cenvat credit on raw materials destroyed by fire and duty payable on finished goods destroyed in a fire incident. The ... Stay/Dispensation of pre-deposit - Cenvat/Modvat Issues involved: Denial of Cenvat credit on raw materials destroyed by fire, duty payable on finished goods destroyed in fire, rejection of remission claim, legal interpretation of Rule 49 of Central Excise Rules.In the judgment delivered by Shri Krishna Kumar, the appeal pertained to the denial of Cenvat credit amounting to Rs. 3,69,824.69 on raw materials destroyed by fire, and duty payable on finished goods destroyed in a fire incident. The appellant's representative argued that the issue was similar to precedents like Asian Paints (I) Ltd. and Schenectady Specialties Asia Ltd., where the Tribunal had ruled in favor of remission of duty in cases of goods destroyed by fire. The appellant had filed a remission application, which was rejected, and the insurance claim was pending settlement. The respondent contended that since the appellant did not appeal against the rejection of the remission claim, challenging the demand on other grounds was not permissible as the rejection order had attained finality. The legal issue at hand was whether the appellants could challenge the rejection of remission through an appeal before the Tribunal after failing to appeal against it earlier.Shri Krishna Kumar acknowledged the legal complexity of the case and decided to dispense with the pre-deposit requirement. The case was scheduled for regular hearing on 28-11-2005. The judge's decision to dispense with the pre-deposit indicated a recognition of the legal intricacies involved in the matter, particularly regarding the interpretation of Rule 49 of the Central Excise Rules and the implications of the rejection of the remission claim on subsequent appeals. The judgment highlighted the importance of legal arguments and precedents in determining the outcome of the appeal, emphasizing the need for a thorough examination of the legal issues raised by both parties before reaching a final decision.
TaxTMI 
TaxTMI 
