https://www.taxtmi.com/caselaws?id=108821 Intermediate flat rolled products were treated as marketable and therefore excisable because evidence showed that identical goods were traded by other manufacturers. The extended period of limitation could not be invoked since the assessee had disclosed the manufacturing process in filed declarations and suppression of facts was not established; the demand beyond six months was time-barred. Once excisability was accepted, Modvat credit on duty-paid inputs was held admissible, the assessable value required recomputation with abatement of duty, and exemption on scrap was available where the scrap arose during manufacture of the exempt final product. The matter was remitted for fresh computation of duty and reconsideration of penalty. en-us Thu, 23 Jan 2003 00:00:00 +0530 Wed, 04 Apr 2012 10:30:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108821 Intermediate flat rolled products were treated as marketable and therefore excisable because evidence showed that identical goods were traded by other manufacturers. The extended period of limitation could not be invoked since the assessee had disclosed the manufacturing process in filed declarations and suppression of facts was not established; the demand beyond six months was time-barred. Once excisability was accepted, Modvat credit on duty-paid inputs was held admissible, the assessable value required recomputation with abatement of duty, and exemption on scrap was available where the scrap arose during manufacture of the exempt final product. The matter was remitted for fresh computation of duty and reconsideration of penalty. Case-Laws Central Excise Thu, 23 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108821