https://www.taxtmi.com/caselaws?id=248084 Cenvat credit could not be reversed on molasses loss where the reported quantity matched monthly storage losses recorded for State Excise purposes rather than any actual transit loss. Once treated as storage loss, the loss fell within the permissible tolerance and did not justify denial of credit. Even if characterised as transit loss, the negligible percentage meant credit still remained admissible under the settled view excluding reversal for insignificant loss. The demand for reversal was therefore unsustainable, and relief was allowed to the appellant. en-us Thu, 27 Mar 2014 00:00:00 +0530 Sat, 31 May 2014 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248084 Cenvat credit could not be reversed on molasses loss where the reported quantity matched monthly storage losses recorded for State Excise purposes rather than any actual transit loss. Once treated as storage loss, the loss fell within the permissible tolerance and did not justify denial of credit. Even if characterised as transit loss, the negligible percentage meant credit still remained admissible under the settled view excluding reversal for insignificant loss. The demand for reversal was therefore unsustainable, and relief was allowed to the appellant. Case-Laws Central Excise Thu, 27 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248084