https://www.taxtmi.com/caselaws?id=115613 The Tribunal upheld the denial of Modvat credit amounting to Rs. 88,854.00 on specific inputs found short during stock-taking at the assessee's premises. Despite the appellant's explanations of burning loss during manufacturing, the Tribunal deemed them insufficient as the shortages exceeded 100% for Sponge Iron and 80% for Ferro Manganese, with excess production of Alloys Casting unaccounted for. The Tribunal rejected the burning loss argument due to lack of weighment evidence, leading to the affirmation of the credit reversal. No penalties were imposed, resulting in the disposal of the appeal without penalty imposition. en-us Tue, 18 Jan 2005 00:00:00 +0530 Thu, 31 May 2012 14:53:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115613 The Tribunal upheld the denial of Modvat credit amounting to Rs. 88,854.00 on specific inputs found short during stock-taking at the assessee's premises. Despite the appellant's explanations of burning loss during manufacturing, the Tribunal deemed them insufficient as the shortages exceeded 100% for Sponge Iron and 80% for Ferro Manganese, with excess production of Alloys Casting unaccounted for. The Tribunal rejected the burning loss argument due to lack of weighment evidence, leading to the affirmation of the credit reversal. No penalties were imposed, resulting in the disposal of the appeal without penalty imposition. Case-Laws Central Excise Tue, 18 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115613