TMI Blog2013 (11) TMI 1420X X X X Extracts X X X X X X X X Extracts X X X X ..... UDHIANA [2010 (5) TMI 700 - PUNJAB & HARYANA HIGH COURT] - specific provision providing for reversal of cenvat credit in such a situation was made only by inserting sub-rule 5 (C ) of Rule 3 of the Cenvat Credit Rules w.e.f. 7.9.2007 - There is nothing in this sub-rule 5 (C) of Rule 3, from which it can be concluded that it has retrospective effect - the order in so far as it imposes the condition of reversal of input duty credit is not sustainable and set aside – Decided in favour of Assessee. - Appeal No.E/2026/2011-SM (BR) - Final Order No.57657/2013 - Dated:- 7-8-2013 - Shri Rakesh Kumar, J. For the Appellant : Shri Sadhu Ram, Consultant For the Respondent: Shri P.K. Sharma, AR JUDGEMENT Per Rakesh Kumar: In th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for reversal of cenvat credit in respect of the inputs used in the manufacture of finished goods, which were destroyed in flood, fire accident, etc. in respect of which remission of duty had been claimed, that during that period in terms of the Larger Bench decision in the case of Grasim Industries Ltd. (supra) the goods destroyed in any accident in respect of which remission of duty under Rule 21 of the Central excise Rules has been granted are not exempted goods and while claiming remission of duty, reversal of input duty credit is not required, that the same view has been taken by the Hon ble Punjab Haryana High Court in the case of Khurana Woolen Mills (P) Ltd. reported in 2013 (289) ELT 153 (P H), that the specific provision providin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing remission of duty under Rule 21 of the Central Excise Rules in respect of the finished goods destroyed in any accident, reversal of input duty credit is not required, as the finished goods in respect of which remission of duty has been allowed are not exempted goods. Same view has been taken by Hon ble Punjab Haryana High Court in the case of Khurana Woolen Mills (P) Ltd. (supra) that specific provision providing for reversal of cenvat credit in such a situation was made only by inserting sub-rule 5 (C ) of Rule 3 of the Cenvat Credit Rules w.e.f. 7.9.2007. There is nothing in this sub-rule 5 (C) of Rule 3, from which it can be concluded that it has retrospective effect. In view of this, the impugned order in so far as it imposes the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
