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2010 (5) TMI 700 - HC - Central ExciseWhether in the absence of one-to-one co-relation Appellant is liable to pay Modvat/Cenvat involved on raw material destroyed in fire? Whether the Tribunal has failed to pass a Speaking Order? Held that:- In the present case, it is on record that the Assessee has not received amount of Cenvat Credit involved on inputs, as compensation from the Insurance Company. It means, Assessee has borne loss of goods incident. It is undisputed fact that the Appellant has paid duty on inputs at the time of purchase of goods. The Assessee took credit and utilized the same for the payment of duty on finished goods. There is no one-to-one co-relation between the inputs and finished goods. In the absence of one-to-one co-relation, it is unjustified to ask the Assessee to reverse the credit which has already been utilized for the payment of finished goods. Thus the Assessee is not liable to pay duty equivalent to amount of Cenvat Credit availed on inputs and therefore question No. 1 is answered in favour of the appellant-assessee. As far as the second question of law is concerned, a perusal of the order passed by the Tribunal shows that it is a speaking order. Hence, this question is also decided against the Revenue
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