https://www.taxtmi.com/caselaws?id=52930 In sugar industry cases involving molasses, duty remission may be allowed where the loss during handling and storage is assessed as a condonable percentage loss and falls within the permissible limit. The Tribunal relied on Board circulars and earlier decisions treating loss below 2% as condonable, and held that this substantive entitlement was not defeated by alleged non-compliance with the 24-hour intimation procedure. On the facts, the stock loss was less than 1% and was not disputed by the Revenue, so the procedural objection did not bar remission. The rejection of the claim was set aside and remission of duty was allowed in favour of the assessee. en-us Tue, 25 May 2004 00:00:00 +0530 Fri, 08 Oct 2010 15:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52930 In sugar industry cases involving molasses, duty remission may be allowed where the loss during handling and storage is assessed as a condonable percentage loss and falls within the permissible limit. The Tribunal relied on Board circulars and earlier decisions treating loss below 2% as condonable, and held that this substantive entitlement was not defeated by alleged non-compliance with the 24-hour intimation procedure. On the facts, the stock loss was less than 1% and was not disputed by the Revenue, so the procedural objection did not bar remission. The rejection of the claim was set aside and remission of duty was allowed in favour of the assessee. Case-Laws Central Excise Tue, 25 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52930