https://www.taxtmi.com/caselaws?id=352111 Cenvat credit on inputs sent for job work was held not to require reversal where the intermediate goods were destroyed in a fire at the job worker's premises and could not be returned within the prescribed period. The Tribunal reasoned that credit validly taken on inputs cannot be denied merely because the goods manufactured from them ceased to exist, and the assessee could not be compelled to return goods destroyed in fire. The pending remission application did not change this result on the facts found. The demand for reversal of credit, interest, and penalty was therefore not sustainable. en-us Fri, 24 Nov 2017 00:00:00 +0530 Fri, 29 Dec 2017 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352111 Cenvat credit on inputs sent for job work was held not to require reversal where the intermediate goods were destroyed in a fire at the job worker's premises and could not be returned within the prescribed period. The Tribunal reasoned that credit validly taken on inputs cannot be denied merely because the goods manufactured from them ceased to exist, and the assessee could not be compelled to return goods destroyed in fire. The pending remission application did not change this result on the facts found. The demand for reversal of credit, interest, and penalty was therefore not sustainable. Case-Laws Central Excise Fri, 24 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352111