https://www.taxtmi.com/caselaws?id=264710 For periods before 07.09.2007, CENVAT credit validly taken on inputs used in finished goods destroyed in fire was not required to be reversed merely because the loss was later reimbursed by an insurer. The amendment introducing Rule 3(5C) of the Cenvat Credit Rules, 2004 operated prospectively and did not apply retrospectively to earlier periods. Applying that binding principle, the Tribunal held that the assessee could retain the credit and the refund claim could not be denied on the ground of insurance recovery. en-us Mon, 29 Jun 2015 00:00:00 +0530 Wed, 30 Sep 2015 06:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264710 For periods before 07.09.2007, CENVAT credit validly taken on inputs used in finished goods destroyed in fire was not required to be reversed merely because the loss was later reimbursed by an insurer. The amendment introducing Rule 3(5C) of the Cenvat Credit Rules, 2004 operated prospectively and did not apply retrospectively to earlier periods. Applying that binding principle, the Tribunal held that the assessee could retain the credit and the refund claim could not be denied on the ground of insurance recovery. Case-Laws Central Excise Mon, 29 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264710