https://www.taxtmi.com/caselaws?id=114534 Modvat credit was not to be denied where inputs were lost during manufacture of an intermediate product because of leakage in a storage tank. The loss was treated as process loss arising in the course of manufacture, so credit remained available even though part of the input was wasted in production. The Tribunal distinguished the Revenue's relied-upon authority on the basis that it concerned loss before raw material was issued for production. Credit was therefore allowed, with consequential relief to the appellants. en-us Mon, 11 Oct 2004 00:00:00 +0530 Wed, 16 May 2012 14:35:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114534 Modvat credit was not to be denied where inputs were lost during manufacture of an intermediate product because of leakage in a storage tank. The loss was treated as process loss arising in the course of manufacture, so credit remained available even though part of the input was wasted in production. The Tribunal distinguished the Revenue's relied-upon authority on the basis that it concerned loss before raw material was issued for production. Credit was therefore allowed, with consequential relief to the appellants. Case-Laws Central Excise Mon, 11 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114534