https://www.taxtmi.com/caselaws?id=209504 Excise duty on petroleum products transferred through pipeline turned on whether transit gains could be set off against transit losses under the governing circulars. The court accepted that, where such adjustment is permissible and the combined result remains within the prescribed limit, the loss is to be assessed on the net basis rather than product-wise alone. On that footing, insistence on pre-deposit was not justified, and the orders refusing complete waiver were set aside. en-us Thu, 17 Feb 2011 00:00:00 +0530 Wed, 17 Jul 2013 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209504 Excise duty on petroleum products transferred through pipeline turned on whether transit gains could be set off against transit losses under the governing circulars. The court accepted that, where such adjustment is permissible and the combined result remains within the prescribed limit, the loss is to be assessed on the net basis rather than product-wise alone. On that footing, insistence on pre-deposit was not justified, and the orders refusing complete waiver were set aside. Case-Laws Central Excise Thu, 17 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209504