Identity value in case the Insert fails + SQL Server

In any cirumstances, the auto incremented value will NOT be set back to previous value if the INSERT fails .

Sample code for proving this,

--Table Creation
CREATE TABLE Table1 ( ID int identity( 1,1), Name varchar(15 )) -- the length of column is 15
GO

run below code for inserting one valid record, then INVALID data into NAME column on second insert.

BEGIN TRY
	INSERT Table1 VALUES( 'First Record') -- length of name <15
	INSERT Table1 VALUES( 'Second Record-Table1') -- -- length of name > 15
END TRY
BEGIN CATCH
	RAISERROR ('Check the Identity value of table1', 15, 121)
END CATCH

Now, what will be the current identity value of table called Table1 ????

SELECT IDENT_CURRENT('Table1') Table1IDUsingIdentCurrent
PRINT 'Records in table1'
SELECT * FROM Table1

Output 
Table1IDUsingIdentCurrent
2

Records in table1 
ID	Name
1	First Record

NOTE: Even though the second insert has failed, the auto incremented value hadn't rollbacked.... If you try to insert 3rd record into the table, the identity value will be 3. In these cases, we will be having MISSED ID values in the table...