https://www.taxtmi.com/caselaws?id=446565 The Tribunal set aside the impugned order and allowed the appeal, concluding that the appellant was entitled to avail CENVAT credit based on the duty paid by the supplier as recorded in the invoices. The Tribunal determined that rule 3 of the CENVAT Credit Rules, 2004, does not permit arbitrary adjustments or tolerance limits for 'loss in transit.' It emphasized that discrepancies in quantity do not affect tax liability unless re-credited by the manufacturer. The Tribunal also noted that compensatory restitution from insurance claims should be adjusted by duty payment, a point uncontested by the Revenue. en-us Wed, 06 Dec 2023 00:00:00 +0530 Thu, 07 Dec 2023 07:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446565 The Tribunal set aside the impugned order and allowed the appeal, concluding that the appellant was entitled to avail CENVAT credit based on the duty paid by the supplier as recorded in the invoices. The Tribunal determined that rule 3 of the CENVAT Credit Rules, 2004, does not permit arbitrary adjustments or tolerance limits for 'loss in transit.' It emphasized that discrepancies in quantity do not affect tax liability unless re-credited by the manufacturer. The Tribunal also noted that compensatory restitution from insurance claims should be adjusted by duty payment, a point uncontested by the Revenue. Case-Laws Central Excise Wed, 06 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446565