https://www.taxtmi.com/caselaws?id=254650 The Tribunal dismissed the duty demand on "Velvet Fabrics," ruling that the Revenue failed to prove the fabrics processed were indeed velvet. Consequently, penalties and interest imposed on the appellants were dismissed, and their appeals were allowed. The dropping of the duty demand on 4% notional profit was upheld as not supported by law, leading to relief for the appellants. The Revenue's appeal was dismissed for lack of merit, affirming the appellants' success in challenging the duty demand and penalties. en-us Thu, 01 May 2014 00:00:00 +0530 Sun, 28 Dec 2014 15:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254650 The Tribunal dismissed the duty demand on "Velvet Fabrics," ruling that the Revenue failed to prove the fabrics processed were indeed velvet. Consequently, penalties and interest imposed on the appellants were dismissed, and their appeals were allowed. The dropping of the duty demand on 4% notional profit was upheld as not supported by law, leading to relief for the appellants. The Revenue's appeal was dismissed for lack of merit, affirming the appellants' success in challenging the duty demand and penalties. Case-Laws Central Excise Thu, 01 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254650