https://www.taxtmi.com/caselaws?id=246686 Pre-deposit of confirmed Cenvat credit demand, interest and penalty was waived, and recovery was stayed, where inputs had been used to manufacture semi-finished goods destroyed by fire. The Tribunal noted that the assessee had informed the department about the fire, had insured the goods, and had received insurance proceeds. It also observed that the Cenvat Credit Rules, 2004 and the departmental manual expressly addressed reversal for destroyed finished goods or destroyed inputs, but did not specifically cover destruction of semi-finished goods after use of inputs in manufacture. On that prima facie basis, and relying on the cited Karnataka High Court decision, interim relief was granted pending appeal. en-us Fri, 30 Nov 2012 00:00:00 +0530 Sun, 20 Apr 2014 16:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246686 Pre-deposit of confirmed Cenvat credit demand, interest and penalty was waived, and recovery was stayed, where inputs had been used to manufacture semi-finished goods destroyed by fire. The Tribunal noted that the assessee had informed the department about the fire, had insured the goods, and had received insurance proceeds. It also observed that the Cenvat Credit Rules, 2004 and the departmental manual expressly addressed reversal for destroyed finished goods or destroyed inputs, but did not specifically cover destruction of semi-finished goods after use of inputs in manufacture. On that prima facie basis, and relying on the cited Karnataka High Court decision, interim relief was granted pending appeal. Case-Laws Central Excise Fri, 30 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246686