2003 (6) TMI 368

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....sp;Revenue filed this appeal against the Order-in-appeal passed by the Commissioner (Appeals) whereby the Commissioner (Appeals) allowed the credit on the inputs used in the final product which is washed away in the flood. 2. Heard both sides. 3. The brief facts of the case that the respondents are engaged in the manufacture of chemicals and were availing the benefit of Modvat credit i....

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....uts used in the final product which is washed away floods. 5. The contention of the Revenue is that as per Rule 57C of the Central Excise Rules, 1944, no credit of duty paid on inputs used in the manufacture of final product, can be allowed if the final product is exempted from the whole of the duty or is chargeable to nil rate of duty. In the present case there is no dispute that inputs wer....