TMI Blog2011 (2) TMI 1159X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in the other product - Held that:- Government of India in the Assessee’s own case [1991 (3) TMI 334 - GOVERNMENT OF INDIA] held that the adjustment of transit gains against transit losses are permissible - this is a fit case to grant full waiver. Decided in favor of the assessee - Writ Petition No. 2444 of 2010, - - - Dated:- 17-2-2011 - J.P. Devadhar and Mridula Bhatkar, JJ. Shri M.H. P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... while transferring the said petroleum products from the refinery to the ware house/sales installation through pipe line. The duty demand has been confirmed by order in original dated 31-12-2008 mainly on the ground that under Circular No. 663, dated 23-9-2002 the loss can be condoned only if the loss incurred in respect of each type of the petroleum product is within the prescribed limit and not b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anded/imposed within four weeks from the receipt of the order. Challenging the said order, the present petition is filed. 6. Whether the transit loss incurred by the assessee is within the limit prescribed by the Circular No. 663 dated 23-9-2002 is the question to be decided at the hearing of the appeal. There is no dispute that if the transit gain in one product is set off against the transit l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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