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2010 (2) TMI 841 - GOVERNMENT OF INDIAWarehousing - cumulative loss statement - Levy of interest under Section 11AB - Held that:- there is no provision for adjusting of the loss in storage tank of the refinery against the storage gain in the terminal, so the applicant request to adjust them is not acceptable. - liability to pay excise duty, which has arisen on account of manufacture of excisable goods is only postponed under warehousing provisions and once any of the associated conditions for warehousing are not complied with, the proper authority is required to take steps to recover the duty along with interest under Rule 160 of the Central Excise Rules, 1944. order-in-appeal upheld and revision application rejected being devoid of merit.
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