2016 (11) TMI 633

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....for the appellant Sh. R.K. Sharma, AR, for the respondent PER: ASHOK JINDAL 1. The short issue involved in the matter is that whether the excise duty is payable on semi finished goods which was destroyed in the fire broke out in the factory of the appellant or not? 2. Heard the parties and considered considered the submissions. 3. In Similar issue came up before this Tribunal in the....

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.... and observed as under: 7. In this case the following isuses are required to be decided. (a) Whether the appellant is entitled to claim remission of duty on finished goods destroyed in fire or consequently required to pay duty on the value of finished goods or required to reverse the cenvat credit on inputs contained in the finished goods? (b) Whether the appellant is entitled to claim re....

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....in respect of inputs used on such goods, hence we are unable to support the view taken in the case of mafatlal Industries whereby it has been held that assessee has to reverse the credit taken of inputs used in such goods on which remission is granted. 9. Therefore, I hold that on finished goods destroyed in fire the appellant is entitled to claim remission of duty. Consequently, appellan....