https://www.taxtmi.com/caselaws?id=44522 An aqueous solution of phenolic resin containing about 40% to 43% resin content was treated as an intermediate product, not resin in liquid form, for excise purposes under Tariff Item 15A. The Court noted that the manufacture of phenolic resin was incomplete until the resin was separated from the solution by further processing such as vacuum distillation, evaporation, spray drying or precipitation. Applying the requirements of tariff description, manufacture and marketability, it held that an intermediate stage product that is not complete as the final commodity and is not shown to be marketable as such does not attract excise duty. en-us Fri, 10 Jan 1997 00:00:00 +0530 Sat, 26 Jun 2010 17:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=44522 An aqueous solution of phenolic resin containing about 40% to 43% resin content was treated as an intermediate product, not resin in liquid form, for excise purposes under Tariff Item 15A. The Court noted that the manufacture of phenolic resin was incomplete until the resin was separated from the solution by further processing such as vacuum distillation, evaporation, spray drying or precipitation. Applying the requirements of tariff description, manufacture and marketability, it held that an intermediate stage product that is not complete as the final commodity and is not shown to be marketable as such does not attract excise duty. Case-Laws Central Excise Fri, 10 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=44522