https://www.taxtmi.com/caselaws?id=81738 Modvat credit on inputs issued into manufacture was not lost merely because the inputs were later destroyed in a fire. Rule 57F(3) was treated as allowing credit for inputs intended to be used in or in relation to manufacture, without requiring physical incorporation in the final product. Because the fire occurred after issue of the inputs and during the manufacturing process, Rule 57I(1)(i) and Rule 57I(2) were held inapplicable on those facts. Reversal was therefore confined to inputs that had not yet been issued for manufacture and were destroyed as unutilised stock. en-us Mon, 04 Nov 1991 00:00:00 +0530 Tue, 12 Sep 2023 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81738 Modvat credit on inputs issued into manufacture was not lost merely because the inputs were later destroyed in a fire. Rule 57F(3) was treated as allowing credit for inputs intended to be used in or in relation to manufacture, without requiring physical incorporation in the final product. Because the fire occurred after issue of the inputs and during the manufacturing process, Rule 57I(1)(i) and Rule 57I(2) were held inapplicable on those facts. Reversal was therefore confined to inputs that had not yet been issued for manufacture and were destroyed as unutilised stock. Case-Laws Central Excise Mon, 04 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81738