https://www.taxtmi.com/caselaws?id=50907 For remission of duty on molasses in storage, storage loss must be assessed against the total quantity actually stored and cleared during the relevant period, not against a budget-day stock figure derived by a non-scientific dip method. Applying that basis, the loss worked out to about 1.7%, which fell within the Board's condonable limit of 2%. On that footing, remission could not be refused, and the consequential duty demand, penalty and interest were unsustainable. en-us Tue, 18 Sep 2001 00:00:00 +0530 Sat, 18 Sep 2010 12:53:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50907 For remission of duty on molasses in storage, storage loss must be assessed against the total quantity actually stored and cleared during the relevant period, not against a budget-day stock figure derived by a non-scientific dip method. Applying that basis, the loss worked out to about 1.7%, which fell within the Board's condonable limit of 2%. On that footing, remission could not be refused, and the consequential duty demand, penalty and interest were unsustainable. Case-Laws Central Excise Tue, 18 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50907