https://www.taxtmi.com/caselaws?id=201925 Storage loss in bonded tanks had to be computed on the total quantity consisting of the opening balance plus receipts during the month, in line with the Board's circular on monthly accounting of storage losses. The Department's method of calculating shortage against the closing book balance was contrary to the prescribed basis. Applying the circular, the lower authorities found the loss within the permissible limit and the issue was decided in favour of the assessee. en-us Thu, 17 Jun 2010 00:00:00 +0530 Wed, 02 Feb 2011 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201925 Storage loss in bonded tanks had to be computed on the total quantity consisting of the opening balance plus receipts during the month, in line with the Board's circular on monthly accounting of storage losses. The Department's method of calculating shortage against the closing book balance was contrary to the prescribed basis. Applying the circular, the lower authorities found the loss within the permissible limit and the issue was decided in favour of the assessee. Case-Laws Central Excise Thu, 17 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201925