9911796707
TMI Blog2016 (8) TMI 842X X X X Extracts X X X X X X X X Extracts X X X X ..... e, is required to be reversed. - Decided in favour of appellant with consequential relief - Stay Application No.51 /2007 and Appeal No.E/69/2007 - ORDER NO.FO/A/75846/2016 - Dated:- 18-8-2016 - Shri H.K.Thakur, Member (Technical) Sri R.K.Chaudhari Sri B.N.Pal, Advocate for the Appellant Sri S.Mukhopadhyay, Suptd.(AR) for the Respondent ORDER Per Shri H. K. Thakur 1. This appeal has been filed by the appellant with respect to Order-in-Appeal No. 75/Kol-III/06 dated 07.09.2006 passed by the Commissioner (Appeal-I), Central Excise, Kolkata as First Appellate Authority. 2. Sri R.K.Chaudhari (Advocate) and Sri B.N.Pal (Advocate) appeared on behalf of the appellant. Sri R.K.Chaudhari argued that First Appellate Autho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... That at this stage appellant cannot raise the ground that cenvat credit with respect to inputs used in the manufacture of finished goods, destroyed in fire, is not payable. 4. Heard both sides and perused the case records. 5. So far as the Stay Petition No.51/2007 filed by the appellant is concerned it is observed that the issue lies in a narrow compass thereof, after allowing the stay application appeal itself taken up for disposal. 6. The only issue required to be decided in this case is whether input credit with respect to inputs used in the manufacture of finished goods, destroyed in fire, is required to be reversed by the appellant. First Appellate Authority has relied upon the case law of Mafatlal Industries Ltd.-vs.- Commr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t has been held that assessee has to reverse the credit taken of inputs used in such goods on which remission is granted. Therefore, we approve the view of the Tribunal taken in the case of Inalsa Ltd. (supra) in this regard. The issue to the Larger Bench is answered in the above terms and the matter be placed before the Regular Bench. 6.1. In view of the above settled law order of the First Appellate Authority was not correct in holding that cenvat credit with respect to inputs used in the manufacture of finished goods, destroyed in fire, is required to be reversed. Accordingly the same is set aside. 7. Ld. AR also argued that no appeal has been filed by the appellant against the order dated 13.03.2002 passed by the Commr. Central ..... X X X X Extracts X X X X X X X X Extracts X X X X
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