https://www.taxtmi.com/caselaws?id=179968 Stock of ball bearings manufactured and lying in inventory before Notification No. 11/2006-CE (NT) could not be subjected to excise duty merely because clearance occurred after the deeming provision came into force. Where the goods were fully manufactured before the levy or deemed manufacturing fiction applied, the later date of clearance did not create a taxable event. On that basis, the stock as on 31.5.2006 was not liable to duty, and the related interest and penalties were also unsustainable. en-us Mon, 22 Feb 2010 00:00:00 +0530 Sat, 19 Mar 2016 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179968 Stock of ball bearings manufactured and lying in inventory before Notification No. 11/2006-CE (NT) could not be subjected to excise duty merely because clearance occurred after the deeming provision came into force. Where the goods were fully manufactured before the levy or deemed manufacturing fiction applied, the later date of clearance did not create a taxable event. On that basis, the stock as on 31.5.2006 was not liable to duty, and the related interest and penalties were also unsustainable. Case-Laws Central Excise Mon, 22 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179968