https://www.taxtmi.com/caselaws?id=120892 Residual crude oil used as fuel to generate steam and electricity for manufacture of final petroleum products remained eligible for exemption where those final products were cleared under bond to a licensed warehouse, because such clearances are not treated as nil-rate or exempt clearances. The exemption was denied only to the extent the final products were actually cleared at nil rate of duty, in which case proportionate duty on the residual crude oil relatable to those clearances could still be recovered. The operative distinction was between bonded warehouse clearances and genuine nil-duty clearances for purposes of intermediate-product exemption. en-us Fri, 22 Dec 2006 00:00:00 +0530 Wed, 25 Jul 2012 12:27:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120892 Residual crude oil used as fuel to generate steam and electricity for manufacture of final petroleum products remained eligible for exemption where those final products were cleared under bond to a licensed warehouse, because such clearances are not treated as nil-rate or exempt clearances. The exemption was denied only to the extent the final products were actually cleared at nil rate of duty, in which case proportionate duty on the residual crude oil relatable to those clearances could still be recovered. The operative distinction was between bonded warehouse clearances and genuine nil-duty clearances for purposes of intermediate-product exemption. Case-Laws Central Excise Fri, 22 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120892