https://www.taxtmi.com/caselaws?id=123183 Remission of duty for molasses lost during storage could not be denied merely because the assessee failed to intimate the Revenue within 24 hours, since that intimation requirement applied to loss or destruction by natural causes or accident and not to storage loss. The Tribunal also noted that Board guidance treated storage loss in molasses up to 2% as condonable, and the loss here was only 0.72%. On that basis, denial of remission was unsustainable, and the consequential demand and penalty were set aside. en-us Fri, 14 Dec 2007 00:00:00 +0530 Mon, 18 Sep 2017 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123183 Remission of duty for molasses lost during storage could not be denied merely because the assessee failed to intimate the Revenue within 24 hours, since that intimation requirement applied to loss or destruction by natural causes or accident and not to storage loss. The Tribunal also noted that Board guidance treated storage loss in molasses up to 2% as condonable, and the loss here was only 0.72%. On that basis, denial of remission was unsustainable, and the consequential demand and penalty were set aside. Case-Laws Central Excise Fri, 14 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123183