https://www.taxtmi.com/caselaws?id=91895 Modvat credit remained available where inputs were used in the manufacture of semi-finished goods, even though those goods were lost before completion of the final product. Credit under the scheme extends to inputs used in or in relation to manufacture, and is not confined to cases where the final product actually emerges. Once inputs have been put to their intended use and transformed into intermediate goods, loss of those goods for reasons beyond the assessee's control does not by itself require reversal of credit. The departmental challenge therefore failed, and the credit was not denied or reversed. en-us Fri, 09 Jul 1999 00:00:00 +0530 Fri, 21 Oct 2011 17:04:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=91895 Modvat credit remained available where inputs were used in the manufacture of semi-finished goods, even though those goods were lost before completion of the final product. Credit under the scheme extends to inputs used in or in relation to manufacture, and is not confined to cases where the final product actually emerges. Once inputs have been put to their intended use and transformed into intermediate goods, loss of those goods for reasons beyond the assessee's control does not by itself require reversal of credit. The departmental challenge therefore failed, and the credit was not denied or reversed. Case-Laws Central Excise Fri, 09 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=91895