https://www.taxtmi.com/caselaws?id=170337 Provisional clearance of raw naphtha for captive use was to be assessed on a monthly basis, with loss and gain worked out and adjusted from the monthly returns filed by the assessee. The governing procedure and departmental guidelines contemplated month-wise computation, and there was no legal basis for aggregating gains and losses across the full six-month provisional assessment period. The view that later-month gains could be set off against earlier-month losses for the entire period was rejected, and the monthly method of assessment was upheld. en-us Thu, 14 Jul 2011 00:00:00 +0530 Fri, 22 May 2015 17:48:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170337 Provisional clearance of raw naphtha for captive use was to be assessed on a monthly basis, with loss and gain worked out and adjusted from the monthly returns filed by the assessee. The governing procedure and departmental guidelines contemplated month-wise computation, and there was no legal basis for aggregating gains and losses across the full six-month provisional assessment period. The view that later-month gains could be set off against earlier-month losses for the entire period was rejected, and the monthly method of assessment was upheld. Case-Laws Central Excise Thu, 14 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170337