https://www.taxtmi.com/caselaws?id=51393 Ex-bond valuation of warehoused NGL turned on the intended post-clearance use: for spiking crude, the applicable assessable value was the administered price for that end use, not the higher direct-consumer price. Rule 160 of the Central Excise Rules was inapplicable because it addresses improper removal, loss, destruction, or goods not satisfactorily accounted for, whereas the goods were lawfully cleared for a known use. The correct mechanism was reassessment under Rule 159(2), which applies where duty depends on the post-clearance use of the goods. On that basis, the higher-duty demand, together with consequential interest and penalty, could not be sustained. en-us Fri, 28 Jun 2002 00:00:00 +0530 Fri, 24 Sep 2010 14:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51393 Ex-bond valuation of warehoused NGL turned on the intended post-clearance use: for spiking crude, the applicable assessable value was the administered price for that end use, not the higher direct-consumer price. Rule 160 of the Central Excise Rules was inapplicable because it addresses improper removal, loss, destruction, or goods not satisfactorily accounted for, whereas the goods were lawfully cleared for a known use. The correct mechanism was reassessment under Rule 159(2), which applies where duty depends on the post-clearance use of the goods. On that basis, the higher-duty demand, together with consequential interest and penalty, could not be sustained. Case-Laws Central Excise Fri, 28 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51393