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2015 (3) TMI 956 - AT - Central ExciseDenial of CENVAT Credit - Input lost in fire - Held that:- Department has mainly relied on the statement of Shri S.K. Mishra, G.M. of the said assessee, recorded by the Range Superintendent, on 26.03.07. I have notices that in the said statement it has been deposed by Shri. S.K. Mishra, that out of total raw material 1315.934 MT, there was around 1000 MT of Sponge Iron was lying in different heaps. Out of this approximate 700 MT sponge iron, which was near to furnace burnt in the incident. However, the loss estimated by the SIB & Associates (Loss assessors) is 547.982 MT. I find no reason to deny the loss to the tune of 547.982 MT, as the said assessee has to record the actual loss in the proper records and the available balance qty. has to be shown in proper records, as they have to utilize the said balance qty. for the production, which ultimately will be removed on payment of C.EX. DUTY. Therefore, I hold that the qty. lost in fire is 547.982 MT. - order passed by the adjudicating authority is correct and I do not agree with the order passed by the Ld. Commissioner (Appeals). - Decided in favour of assessee.
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