https://www.taxtmi.com/caselaws?id=256701 Modvat credit under Rule 57A was allowable once duty-paid inputs were brought into the factory and used in or in relation to manufacture; actual emergence of finished goods was not a condition precedent. Because the inputs had already entered the manufacturing process, destruction of the goods in a fire did not by itself render the credit inadmissible. The denial of credit and the connected penalty were therefore not sustainable, and the assessee succeeded on merits. en-us Thu, 05 Feb 2015 00:00:00 +0530 Thu, 06 Aug 2015 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256701 Modvat credit under Rule 57A was allowable once duty-paid inputs were brought into the factory and used in or in relation to manufacture; actual emergence of finished goods was not a condition precedent. Because the inputs had already entered the manufacturing process, destruction of the goods in a fire did not by itself render the credit inadmissible. The denial of credit and the connected penalty were therefore not sustainable, and the assessee succeeded on merits. Case-Laws Central Excise Thu, 05 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256701