2010 (2) TMI 72

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....OUNSEL FOR THE APPELLANT. MR. AKSHAY BHAN, ADVOCATE FOR THE RESPONDENT. ASHUTOSH MOHUNTA, J. (ORAL) The Revenue has impugned the order (Annexure A-3) passed by the Customs, Excise and Service Tax Tribunal (for short 'the Tribunal') vide which the appeal filed by the Department was dismissed and the respondents was held entitled to claim Cenvat credit on the finished/semifinished goods which wer....

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....t was never sold, hence, they were entitled to claim Cenvat credit. The adjudicating authority decided the show cause notice in favour of the Revenue and against the assessee. In appeal, the Commissioner (Appeals), however, set aside the order passed by the adjudicating authority and held that as the inputs were destroyed in the fire, which fact was not disputed by the Department, therefore, the ....

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....ct. Once the product was used, then they were entitled to claim Cenvat credit on the same. In Commissioner of Central Excise, Bangalore vs. Tulsyan Nec Ltd., reported as 2007(207) ELT 209 (Kar.), it has been held that the assessee is entitled to claim Cenvat credit on the inputs destroyed in a fire accident, but in the event of settlement by the insurance company, they would remit the benefit back....