2016 (5) TMI 996

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... As per the statutory records of raw materials and as per claim of the appellant the said raw materials have been used for intended purpose. The compensation of insurance company is for damage to the quality of the raw material. Though the appellant did not produce any documentary evidence to substantiate such claim it is also a fact that Revenue did not produce any evidence of total loss of the sa .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ey are availing Cenvat credit on inputs. During the course of audit by the Departmental officers it was noticed that the appellant received amounts through insurance claim against loss due to fire. Among other items, 50 M.T. of Sponge Iron 2 M.T. of MS Scrap were shown as loss for insurance payment. Proceedings were initiated against the appellant for recovery of Cenvat credit on Sponge Iron not u .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... The learned AR submitted that as per the insurance claim 50 M.T. of Sponge Iron was lost due to fire and as such the credit on the same is not admissible to the appellant. 4. Heard both the sides and perused the appeal records. It is seen that the demand for recovery of Cenvat credit on Sponge Iron was only on the ground of payment of insurance amount with the appellant. The appellants c .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X