https://www.taxtmi.com/caselaws?id=265148 The Tribunal upheld the lower authorities' decision in favor of the respondent, dismissing the Revenue's appeal against dropping a show cause notice to deny Cenvat credit on inputs lost in a fire incident. The Tribunal found that Rule 3(5B) of the Cenvat Credit Rules, 2004 did not apply as the inputs were lost during the manufacturing process of final goods. Additionally, the Tribunal held that CBEC Circular No. 907/27/09-CE was inconsistent with judicial decisions, emphasizing that no reversal of Cenvat credit was required for destroyed inputs issued for further manufacturing. The destruction of work-in-progress and semi-finished goods in the fire did not necessitate a reversal of Cenvat credit, leading to the dismissal of the Revenue's appeal. en-us Wed, 08 Apr 2015 00:00:00 +0530 Thu, 31 Dec 2015 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265148 The Tribunal upheld the lower authorities' decision in favor of the respondent, dismissing the Revenue's appeal against dropping a show cause notice to deny Cenvat credit on inputs lost in a fire incident. The Tribunal found that Rule 3(5B) of the Cenvat Credit Rules, 2004 did not apply as the inputs were lost during the manufacturing process of final goods. Additionally, the Tribunal held that CBEC Circular No. 907/27/09-CE was inconsistent with judicial decisions, emphasizing that no reversal of Cenvat credit was required for destroyed inputs issued for further manufacturing. The destruction of work-in-progress and semi-finished goods in the fire did not necessitate a reversal of Cenvat credit, leading to the dismissal of the Revenue's appeal. Case-Laws Central Excise Wed, 08 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265148