https://www.taxtmi.com/caselaws?id=106390 Marketability determines whether captively consumed polypropylene filament yarn is excisable: stock retention, absence of evidence of an unmarketably short shelf-life, and prior market purchases support capability of being bought and sold. Non-disclosure of manufacture and captive use permits the extended limitation period and defeats a revenue-neutrality defence on the stated facts. Modvat credit reversed on the belief that goods were non-dutiable may be adjusted against duty subsequently confirmed. Captive removal without duty payment may attract penalty, but cumulative penalties under multiple provisions may be excessive; credit adjustment and a reduced penalty were applied. en-us Fri, 07 Jun 2002 00:00:00 +0530 Tue, 13 Mar 2012 18:44:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106390 Marketability determines whether captively consumed polypropylene filament yarn is excisable: stock retention, absence of evidence of an unmarketably short shelf-life, and prior market purchases support capability of being bought and sold. Non-disclosure of manufacture and captive use permits the extended limitation period and defeats a revenue-neutrality defence on the stated facts. Modvat credit reversed on the belief that goods were non-dutiable may be adjusted against duty subsequently confirmed. Captive removal without duty payment may attract penalty, but cumulative penalties under multiple provisions may be excessive; credit adjustment and a reduced penalty were applied. Case-Laws Central Excise Fri, 07 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106390