https://www.taxtmi.com/caselaws?id=344493 For remission of central excise duty on goods destroyed in fire, the insurance surveyor's valuation was not conclusive because insurance assessment and duty remission serve different purposes. The department was required to independently verify the evidence of destruction and the quantity of stock reflected in the assessee's records. As the sponge iron was admittedly destroyed in an arson incident and the claimed closing stock was supported by the books, denial of remission for part of the quantity was unjustified. Remission was held admissible for the full quantity claimed. en-us Mon, 05 Jun 2017 00:00:00 +0530 Mon, 19 Jun 2017 07:03:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344493 For remission of central excise duty on goods destroyed in fire, the insurance surveyor's valuation was not conclusive because insurance assessment and duty remission serve different purposes. The department was required to independently verify the evidence of destruction and the quantity of stock reflected in the assessee's records. As the sponge iron was admittedly destroyed in an arson incident and the claimed closing stock was supported by the books, denial of remission for part of the quantity was unjustified. Remission was held admissible for the full quantity claimed. Case-Laws Central Excise Mon, 05 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344493