https://www.taxtmi.com/caselaws?id=117393 An intermediate product removed for further processing under Rule 56B was not marketable in the trade as felt, so it lacked the essential attribute for central excise duty. The Tribunal noted that marketability is a prerequisite for levy; where no marketable product emerges, classification and assessment do not arise. As the earlier finding that no manufacture of felt had occurred had become final between the parties, the classification-based duty demand could not survive. The product was therefore not liable to excise duty as felt, and the demand failed. en-us Fri, 20 Jan 2006 00:00:00 +0530 Fri, 22 Jun 2012 13:27:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117393 An intermediate product removed for further processing under Rule 56B was not marketable in the trade as felt, so it lacked the essential attribute for central excise duty. The Tribunal noted that marketability is a prerequisite for levy; where no marketable product emerges, classification and assessment do not arise. As the earlier finding that no manufacture of felt had occurred had become final between the parties, the classification-based duty demand could not survive. The product was therefore not liable to excise duty as felt, and the demand failed. Case-Laws Central Excise Fri, 20 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117393