https://www.taxtmi.com/caselaws?id=126895 Cenvat credit correctly availed on receipt of inputs was not made penal merely because the inputs were later destroyed in a flood before use. The credit was reversed with interest after the department pointed out the issue, and the Tribunal noted that similar facts had attracted no penalty where credit was originally valid and subsequently regularised. The department's cited authorities were held not to govern penalty in these circumstances. Penalty was therefore not imposable. en-us Wed, 10 Dec 2008 00:00:00 +0530 Tue, 05 Feb 2013 13:34:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126895 Cenvat credit correctly availed on receipt of inputs was not made penal merely because the inputs were later destroyed in a flood before use. The credit was reversed with interest after the department pointed out the issue, and the Tribunal noted that similar facts had attracted no penalty where credit was originally valid and subsequently regularised. The department's cited authorities were held not to govern penalty in these circumstances. Penalty was therefore not imposable. Case-Laws Central Excise Wed, 10 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126895