https://www.taxtmi.com/caselaws?id=82119 Foundation bolts used to fasten machinery to a foundation were classified by their actual commercial identity and functional character, not by the fact that they were used captively. Applying common parlance and marketability principles, the goods were treated as bolts because they performed a fastening function and were identifiable as such. The absence of sale did not by itself exclude excise classification where the goods remained marketable and recognisable. On that basis, the goods fell under Item 52 of the erstwhile Central Excise Tariff and not the residuary Item 68, so the Revenue's classification was upheld. en-us Wed, 25 Sep 1991 00:00:00 +0530 Sat, 02 Jul 2011 11:05:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82119 Foundation bolts used to fasten machinery to a foundation were classified by their actual commercial identity and functional character, not by the fact that they were used captively. Applying common parlance and marketability principles, the goods were treated as bolts because they performed a fastening function and were identifiable as such. The absence of sale did not by itself exclude excise classification where the goods remained marketable and recognisable. On that basis, the goods fell under Item 52 of the erstwhile Central Excise Tariff and not the residuary Item 68, so the Revenue's classification was upheld. Case-Laws Central Excise Wed, 25 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82119