...Kashmir has been nominated for Best Rock Performance.
Led Zeppelin's performance of Kashmir has been nominated for a Grammy in the Best Rock Performance for the 56th annual Grammy Awards. The Celebration Day is also nominated in the Best Rock Album category.
While Led Zeppelin has never won a Grammy, Jimmy Page and Robert Plant won a joint 1998 Grammy in for the song Most High, from the Walking Into Clarksdale CD. Individually, Plant won five Grammy's in 2009, including album and record of the year, for his collaboration with Alison Krauss, Raising Sand, and John Paul Jones' band Them Crooked Vultures won one Best Hard Rock Performance in 2011 for the song New Fang.
The 56th Grammy's will be held on Jan. 26th in Los Angeles.
Update - Dec 11
From the comments: "the band was finally honored in 2005 with a Lifetime Achievement Grammy..."