https://www.taxtmi.com/caselaws?id=255345 CENVAT credit on inputs issued for manufacture need not be reversed where the work-in-progress containing those inputs is destroyed in a fire during the manufacturing process and there is no diversion of goods. The settled position applied is that destruction of WIP in such circumstances does not by itself create an obligation under the Cenvat Credit Rules, 2002 to reverse validly taken credit. On that basis, the contrary departmental view was not accepted, and the demand, interest and penalty were held unsustainable. en-us Wed, 30 Jul 2014 00:00:00 +0530 Sat, 03 Oct 2015 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255345 CENVAT credit on inputs issued for manufacture need not be reversed where the work-in-progress containing those inputs is destroyed in a fire during the manufacturing process and there is no diversion of goods. The settled position applied is that destruction of WIP in such circumstances does not by itself create an obligation under the Cenvat Credit Rules, 2002 to reverse validly taken credit. On that basis, the contrary departmental view was not accepted, and the demand, interest and penalty were held unsustainable. Case-Laws Central Excise Wed, 30 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255345