https://www.taxtmi.com/caselaws?id=202374 Intermediate yarn was held marketable because it emerged as a distinct product with independent name, character and use, and actual sales were not necessary to establish dutiability. However, the extended limitation period was found inapplicable because the assessees had disclosed the product in classification declarations, modvat declarations and RT-12 returns, so suppression, fraud, collusion or intent to evade duty was not proved. As the duty demand for the relevant period was time-barred, the penalties founded on that demand were also set aside. en-us Thu, 19 Aug 2010 00:00:00 +0530 Sat, 19 Feb 2011 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202374 Intermediate yarn was held marketable because it emerged as a distinct product with independent name, character and use, and actual sales were not necessary to establish dutiability. However, the extended limitation period was found inapplicable because the assessees had disclosed the product in classification declarations, modvat declarations and RT-12 returns, so suppression, fraud, collusion or intent to evade duty was not proved. As the duty demand for the relevant period was time-barred, the penalties founded on that demand were also set aside. Case-Laws Central Excise Thu, 19 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202374