https://www.taxtmi.com/caselaws?id=41939 Resorcinol formaldehyde latex dip solution manufactured and captively consumed in the factory was held not to be marketable goods for excise purposes. The Court applied the principle that tariff duty attaches only to goods capable of being bought and sold, and found that the solution was prepared for immediate tyre cord dipping, had a very short usable life, could not be preserved without stabilisers, and was not shown to have any real market. It was treated as an in-process intermediate used by the manufacturer itself, so it did not fall within Tariff Item 15A(1) and no excise duty was leviable. en-us Tue, 23 Jun 1987 00:00:00 +0530 Tue, 08 Jun 2010 11:12:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41939 Resorcinol formaldehyde latex dip solution manufactured and captively consumed in the factory was held not to be marketable goods for excise purposes. The Court applied the principle that tariff duty attaches only to goods capable of being bought and sold, and found that the solution was prepared for immediate tyre cord dipping, had a very short usable life, could not be preserved without stabilisers, and was not shown to have any real market. It was treated as an in-process intermediate used by the manufacturer itself, so it did not fall within Tariff Item 15A(1) and no excise duty was leviable. Case-Laws Central Excise Tue, 23 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41939