https://www.taxtmi.com/caselaws?id=245738 The Appellate Tribunal CESTAT NEW DELHI decided to dispense with the pre-deposit condition of duty and penalty and allowed the stay petition unconditionally. The Tribunal found that the provisions mandating repayment of Cenvat Credit in case of input destruction due to fire were not available at the time of the fire incident, making the earlier Larger Bench decision in the case of Grasim Industries v. CCE, Indore applicable. The judgment clarifies the issue of reversing Modvat credit in cases of input destruction due to fire and underscores the significance of considering the timing of rule amendments in such circumstances. en-us Fri, 09 Sep 2011 00:00:00 +0530 Sat, 05 Apr 2014 18:32:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245738 The Appellate Tribunal CESTAT NEW DELHI decided to dispense with the pre-deposit condition of duty and penalty and allowed the stay petition unconditionally. The Tribunal found that the provisions mandating repayment of Cenvat Credit in case of input destruction due to fire were not available at the time of the fire incident, making the earlier Larger Bench decision in the case of Grasim Industries v. CCE, Indore applicable. The judgment clarifies the issue of reversing Modvat credit in cases of input destruction due to fire and underscores the significance of considering the timing of rule amendments in such circumstances. Case-Laws Central Excise Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245738