https://www.taxtmi.com/caselaws?id=208094 Molasses storage loss in a sugar factory was treated as a continuous and unavoidable incident of operations, so it could not be assessed as if the loss occurred only before stock verification. The Tribunal upheld condonation of duty where the loss remained within the yearly 2% norm recognised by the Board's circular and reinforced by Section 8(4) of the U.P. Sheera Niyantran Adhiniyam, 1964. It rejected the Revenue's attempt to calculate loss on a daily or proportionate basis as misconceived and maintained that the yearly ceiling governs storage wastage, with additional loss excused where caused by accident or other unavoidable cause. en-us Wed, 23 Mar 2011 00:00:00 +0530 Fri, 22 May 2015 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208094 Molasses storage loss in a sugar factory was treated as a continuous and unavoidable incident of operations, so it could not be assessed as if the loss occurred only before stock verification. The Tribunal upheld condonation of duty where the loss remained within the yearly 2% norm recognised by the Board's circular and reinforced by Section 8(4) of the U.P. Sheera Niyantran Adhiniyam, 1964. It rejected the Revenue's attempt to calculate loss on a daily or proportionate basis as misconceived and maintained that the yearly ceiling governs storage wastage, with additional loss excused where caused by accident or other unavoidable cause. Case-Laws Central Excise Wed, 23 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208094