2007 (11) TMI 199

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....tion filed by the appellants was rejected. The appellants are engaged in the manufacture of sugar and during the manufacture of sugar, they are storing the molasses in the steel tanks. Vide letter dated 2-8-2004, the appellants informed the revenue that our steel tank No. 1 is in its final stage of empty and the appellant had taken the physical stock of the molasses and it  was found that 110....