https://www.taxtmi.com/caselaws?id=328015 The Tribunal set aside the order for the recovery of Cenvat credit on Sponge Iron lost in a fire incident, ruling in favor of the appellant. The Department's reliance on the insurance claim as the basis for denying the credit was deemed insufficient, as the appellant's statutory records demonstrated the raw materials were used for their intended purpose despite the damage compensated by the insurance company. The Tribunal emphasized the lack of concrete evidence of total loss and upheld the appellant's claim, ultimately allowing the appeal. en-us Tue, 03 May 2016 00:00:00 +0530 Tue, 24 May 2016 10:35:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328015 The Tribunal set aside the order for the recovery of Cenvat credit on Sponge Iron lost in a fire incident, ruling in favor of the appellant. The Department's reliance on the insurance claim as the basis for denying the credit was deemed insufficient, as the appellant's statutory records demonstrated the raw materials were used for their intended purpose despite the damage compensated by the insurance company. The Tribunal emphasized the lack of concrete evidence of total loss and upheld the appellant's claim, ultimately allowing the appeal. Case-Laws Central Excise Tue, 03 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328015