2007 (4) TMI 127 - AT - Central Excise

Cenvat/Modvat - Department contended that the quantity which was not received is not used in relation to manufacture of the finished goods and hence the proportionate amount of credit required to be reversed - Held that department contention was not correct and set aside

Summary

The Appellate Tribunal CESTAT, Kolkata ruled that duty credit on lost inputs in transit is admissible for manufacturing. Citing relevant legal precedents, the tribunal set aside the order and allowed the appeal in favor of the Appellants. (Case citation: 2007 (4) TMI 127 - CESTAT, Kolkata)