https://www.taxtmi.com/caselaws?id=114667 Hard waste arising incidentally in the manufacture of yarn and cleared at nil duty could not be treated as the final product for denying Cenvat credit on the input contained in that waste. The Tribunal followed the principle that waste and scrap emerging in manufacture are not the principal final product, and held that the demand for reversal of credit rested on an incorrect premise. Once that premise failed, the related penalty also lacked an independent basis and could not survive. en-us Fri, 05 Nov 2004 00:00:00 +0530 Fri, 18 May 2012 17:48:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114667 Hard waste arising incidentally in the manufacture of yarn and cleared at nil duty could not be treated as the final product for denying Cenvat credit on the input contained in that waste. The Tribunal followed the principle that waste and scrap emerging in manufacture are not the principal final product, and held that the demand for reversal of credit rested on an incorrect premise. Once that premise failed, the related penalty also lacked an independent basis and could not survive. Case-Laws Central Excise Fri, 05 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114667