https://www.taxtmi.com/caselaws?id=86493 Duty demand based on alleged irregular Modvat credit on molasses lost in storage was held partly barred by limitation, because the assessee had furnished monthly storage-loss accounts and the department had accepted the relevant rate figures. The demand also had to be recomputed on the correct factual basis, since the quantum had not been worked out properly in light of the actual credit taken and the nature of the inputs. The impugned orders were modified and the matter remanded for fresh computation of the duty liability, with only the demand within limitation surviving subject to recalculation. en-us Mon, 16 Sep 1996 00:00:00 +0530 Thu, 25 Aug 2011 11:46:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86493 Duty demand based on alleged irregular Modvat credit on molasses lost in storage was held partly barred by limitation, because the assessee had furnished monthly storage-loss accounts and the department had accepted the relevant rate figures. The demand also had to be recomputed on the correct factual basis, since the quantum had not been worked out properly in light of the actual credit taken and the nature of the inputs. The impugned orders were modified and the matter remanded for fresh computation of the duty liability, with only the demand within limitation surviving subject to recalculation. Case-Laws Central Excise Mon, 16 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86493