https://www.taxtmi.com/caselaws?id=85863 Cut M.S. sheets emerging after use in manufacture were held to be usable sheets, not waste and scrap, because the tariff definition requires material to be definitely not usable as such; their marketability and capability of use by other manufacturers meant duty applied at the rate for sheets. On limitation, the recovery provision was held applicable on the facts because the inputs were cleared in a manner not permitted under the Modvat scheme, so the extended period could be invoked for the duty demand. Penalty and redemption fine were not justified and were set aside. en-us Mon, 31 Jul 1995 00:00:00 +0530 Fri, 24 May 2019 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85863 Cut M.S. sheets emerging after use in manufacture were held to be usable sheets, not waste and scrap, because the tariff definition requires material to be definitely not usable as such; their marketability and capability of use by other manufacturers meant duty applied at the rate for sheets. On limitation, the recovery provision was held applicable on the facts because the inputs were cleared in a manner not permitted under the Modvat scheme, so the extended period could be invoked for the duty demand. Penalty and redemption fine were not justified and were set aside. Case-Laws Central Excise Mon, 31 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85863