https://www.taxtmi.com/caselaws?id=1039 CENVAT credit consequences arising from destruction of inputs in a fire accident were considered where the inputs had already been issued for manufacture and the insurance claim remained unsettled. The Tribunal treated the loss as a factual basis for relieving duty demand, reversal of credit, and penalty, relying on prior authority on fire-loss situations. The Revenue's cited precedent was distinguished because the insurance claim there had been settled, whereas here it had not. The High Court found no reason to interfere with the Tribunal's factual assessment and declined to answer the questions of law, leaving the relief in favour of the assessee undisturbed. en-us Thu, 31 Aug 2006 00:00:00 +0530 Mon, 14 Apr 2008 05:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1039 CENVAT credit consequences arising from destruction of inputs in a fire accident were considered where the inputs had already been issued for manufacture and the insurance claim remained unsettled. The Tribunal treated the loss as a factual basis for relieving duty demand, reversal of credit, and penalty, relying on prior authority on fire-loss situations. The Revenue's cited precedent was distinguished because the insurance claim there had been settled, whereas here it had not. The High Court found no reason to interfere with the Tribunal's factual assessment and declined to answer the questions of law, leaving the relief in favour of the assessee undisturbed. Case-Laws Central Excise Thu, 31 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1039