2010 (9) TMI 1020

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....ender Kumar Chaudhary, SDR, for the Respondent. ORDER The short dispute in this appeal is whether the outcome of molasses which rectified spirit and called as Refined Alcohol when partially vanishes in the process of storage due to volatile nature should be liable for payment of an amount of 8% of the value of goods so pilfered. 2. Both parties are in controversy because of the Modvat cred....

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....g excisable. There was loss of revenue due to claim of pilferage. Accordingly 8% levy was made against the assessee. Revenue also submits that there is no basis to allow any percentage by mandate of law. 5. Heard both sides for sometime. We do appreciate that the goods in question is volatile in nature. The chemical properties of the goods is certainly subject to volatility to certain extent....