https://www.taxtmi.com/caselaws?id=258022 The Tribunal ruled in favor of the appellant, determining that the quantity of Sponge Iron lost in a fire incident was 547.982 MT, contrary to the appellant's claim of 700 MT. The Tribunal rejected the imposition of penalties and the requirement to reverse Cenvat credit based on the accurate assessment by the insurance surveyor. The decision emphasized the importance of precise record-keeping and upheld the appellant's position on the quantity discrepancy, leading to the setting aside of the Commissioner's orders. en-us Fri, 20 Feb 2015 00:00:00 +0530 Sat, 01 Aug 2015 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258022 The Tribunal ruled in favor of the appellant, determining that the quantity of Sponge Iron lost in a fire incident was 547.982 MT, contrary to the appellant's claim of 700 MT. The Tribunal rejected the imposition of penalties and the requirement to reverse Cenvat credit based on the accurate assessment by the insurance surveyor. The decision emphasized the importance of precise record-keeping and upheld the appellant's position on the quantity discrepancy, leading to the setting aside of the Commissioner's orders. Case-Laws Central Excise Fri, 20 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258022