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2015 (7) TMI 386 - HC - Central ExciseReversal of CENVAT Credit - Remission of duty - whether on remission of duty, the assessee is liable to reverse the cenvat credit taken on inputs - held that:- once the goods are destroyed or lost due to natural cause, remission of duty is granted on such goods. Since the inputs are considered to be put to intended use in the manufacture of finished products, it is deemed to have been consumed in the process of manufacture and since the goods are lost or destroyed due to unavoidable accident, the claim of reversal of credit cannot be countenanced, more so, when the said provision does not provide for reversal of credit, as has been observed by the Tribunal, which we approve. - Decided against Revenue.
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