Marketability of spent palladium catalyst was not proved, so the Tribunal's finding in favour of the assessee stood.

Spent palladium catalyst could not be brought within the taxing net unless marketability was established on the material before the Court. The Department bore the burden of proving that the spent catalyst was a marketable commodity, but the record did not satisfy that test. On that basis, no ground was made out to interfere with the Tribunal's finding, and the issue was decided in favour of the assessee and against the Department.

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Issues: Whether spent palladium catalyst was a marketable commodity so as to justify interference with the Tribunal's order.

Analysis: The Department was required to establish marketability of the spent palladium catalyst. The material on record did not show that the commodity satisfied that test, and no ground was made out for disturbing the Tribunal's finding.

Conclusion: The issue was decided against the Department and in favour of the assessee.

Ratio Decidendi: A commodity cannot be brought within the taxing net unless its marketability is established on the material before the Court.

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