https://www.taxtmi.com/caselaws?id=82853 The Appellate Tribunal CEGAT, Calcutta allowed the appeals against the Collector (Appeals) order, setting aside the duty demand on losses during transit by Indian Oil Corporation (I.O.C.). The Tribunal held that losses or gains should be reconciled on a periodic basis, allowing for setting off gains against losses before levying duty. Emphasizing the importance of considering all factors, including equipment limitations, the Tribunal remanded the matters for further assessment in line with its observations, ensuring a fair decision on duty liability for transit losses. en-us Wed, 27 Jul 1983 00:00:00 +0530 Thu, 07 Jul 2011 17:21:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82853 The Appellate Tribunal CEGAT, Calcutta allowed the appeals against the Collector (Appeals) order, setting aside the duty demand on losses during transit by Indian Oil Corporation (I.O.C.). The Tribunal held that losses or gains should be reconciled on a periodic basis, allowing for setting off gains against losses before levying duty. Emphasizing the importance of considering all factors, including equipment limitations, the Tribunal remanded the matters for further assessment in line with its observations, ensuring a fair decision on duty liability for transit losses. Case-Laws Central Excise Wed, 27 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82853