https://www.taxtmi.com/caselaws?id=348359 The Tribunal set aside the order requiring the appellant to reverse Cenvat Credit on capital goods destroyed in a fire incident. Relying on a precedent, the Tribunal held that since the capital goods were in use before the fire, Rule 3(5) did not mandate credit reversal. The Tribunal dismissed arguments on substantial use, stating it was not defined in the law. Consequently, the Tribunal ruled in favor of the appellant, allowing the appeal and maintaining their entitlement to the Cenvat Credit without reversal. en-us Tue, 29 Aug 2017 00:00:00 +0530 Thu, 21 Sep 2017 07:06:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348359 The Tribunal set aside the order requiring the appellant to reverse Cenvat Credit on capital goods destroyed in a fire incident. Relying on a precedent, the Tribunal held that since the capital goods were in use before the fire, Rule 3(5) did not mandate credit reversal. The Tribunal dismissed arguments on substantial use, stating it was not defined in the law. Consequently, the Tribunal ruled in favor of the appellant, allowing the appeal and maintaining their entitlement to the Cenvat Credit without reversal. Case-Laws Central Excise Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348359