https://www.taxtmi.com/caselaws?id=40948 The court ruled in favor of the petitioner, a public limited company, in a case concerning the refund of excise duty paid for the period from 1st October, 1973 to 11th May, 1974. The court held that the excise duty should be charged only on manufacturing costs and profits, excluding post-manufacturing expenses. It was determined that the petitioner's claim for refund was not time-barred, as it was made within three years of discovering the mistake. The court also emphasized that a notification providing an exemption from duty could not override statutory provisions on the determination of assessable value. The respondents were directed to refund the excess duty and discharge the bank guarantees given by the petitioner. en-us Thu, 09 Jul 1981 00:00:00 +0530 Tue, 18 May 2010 12:41:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40948 The court ruled in favor of the petitioner, a public limited company, in a case concerning the refund of excise duty paid for the period from 1st October, 1973 to 11th May, 1974. The court held that the excise duty should be charged only on manufacturing costs and profits, excluding post-manufacturing expenses. It was determined that the petitioner's claim for refund was not time-barred, as it was made within three years of discovering the mistake. The court also emphasized that a notification providing an exemption from duty could not override statutory provisions on the determination of assessable value. The respondents were directed to refund the excess duty and discharge the bank guarantees given by the petitioner. Case-Laws Central Excise Thu, 09 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40948