https://www.taxtmi.com/caselaws?id=41971 The court ruled in favor of the petitioner, a company manufacturing electrical wires, in a dispute with the Excise Department over the classification of varnish for excise duty purposes. The court determined that the product at the intermediate stage was varnish, not polyester resin subject to duty, as it was not marketable in its current state. Expert opinions and industry practices supported the petitioner's position, emphasizing the non-commercial viability of the product as resin. The judgment highlighted the importance of independent assessment by the Department and rejected duty imposition on a non-marketable product, directing the cancellation of bank guarantees and awarding costs to the petitioner. en-us Thu, 30 Jul 1987 00:00:00 +0530 Tue, 08 Jun 2010 13:04:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41971 The court ruled in favor of the petitioner, a company manufacturing electrical wires, in a dispute with the Excise Department over the classification of varnish for excise duty purposes. The court determined that the product at the intermediate stage was varnish, not polyester resin subject to duty, as it was not marketable in its current state. Expert opinions and industry practices supported the petitioner's position, emphasizing the non-commercial viability of the product as resin. The judgment highlighted the importance of independent assessment by the Department and rejected duty imposition on a non-marketable product, directing the cancellation of bank guarantees and awarding costs to the petitioner. Case-Laws Central Excise Thu, 30 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41971