https://www.taxtmi.com/caselaws?id=44497 Marketability remains an essential ingredient of excisable goods: a captive intermediate product used in a continuous manufacturing process is not dutiable unless it is a distinct commodity known to, and capable of sale in, the market. Applying that principle, the Court treated the sliver emerging during manufacture of semi-worsted carpet yarn as a transient in-process material with no shelf life, market identity, or practical capacity to be bought or sold, and therefore not exigible to central excise duty. The Court also rejected the alternative-remedy objection and examined the merits, noting the long pendency of the writ and the academic character of the challenge to certain provisions. en-us Wed, 14 Dec 1994 00:00:00 +0530 Sat, 26 Jun 2010 15:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=44497 Marketability remains an essential ingredient of excisable goods: a captive intermediate product used in a continuous manufacturing process is not dutiable unless it is a distinct commodity known to, and capable of sale in, the market. Applying that principle, the Court treated the sliver emerging during manufacture of semi-worsted carpet yarn as a transient in-process material with no shelf life, market identity, or practical capacity to be bought or sold, and therefore not exigible to central excise duty. The Court also rejected the alternative-remedy objection and examined the merits, noting the long pendency of the writ and the academic character of the challenge to certain provisions. Case-Laws Central Excise Wed, 14 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=44497