https://www.taxtmi.com/caselaws?id=213568 The Appellate Tribunal CESTAT, Mumbai upheld the impugned order in a dispute where the Revenue challenged the reversal of CENVAT credit related to inputs in goods destroyed in a flood. Relying on the precedent set by the Larger Bench decision in Grasim Industries case, the Tribunal ruled in favor of the respondent, stating that the credit on inputs used in manufacturing the destroyed goods should not be reversed. The Tribunal rejected the Revenue's appeal, concluding that the respondent was not required to reverse the credit on inputs, as their destruction due to natural causes did not necessitate credit reversal. en-us Tue, 03 May 2011 00:00:00 +0530 Mon, 10 Jun 2013 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213568 The Appellate Tribunal CESTAT, Mumbai upheld the impugned order in a dispute where the Revenue challenged the reversal of CENVAT credit related to inputs in goods destroyed in a flood. Relying on the precedent set by the Larger Bench decision in Grasim Industries case, the Tribunal ruled in favor of the respondent, stating that the credit on inputs used in manufacturing the destroyed goods should not be reversed. The Tribunal rejected the Revenue's appeal, concluding that the respondent was not required to reverse the credit on inputs, as their destruction due to natural causes did not necessitate credit reversal. Case-Laws Central Excise Tue, 03 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213568