1996 (8) TMI 117

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....e Tribunal. 2.No detailed discussion of facts is necessary for reasons which will become apparent. The appellants manufacture iron and steel. For that purpose they require oxygen gas. They make the oxygen gas themselves. Of the oxygen gas made by the appellants, 99.998% is captively consumed as aforesaid. In this respect the appellants declared the value of 100 cubic meters of the oxygen gas at R....

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....intended for use in the manufacture of iron in any crude form, steel ingots and iron or steel products falling under Item Nos. 25, 26 and 26AA of the First Schedule, provided that the Assistant Collector of Central Excise was satisfied that the oxygen gas had been so used. The appeal was admitted and there was a stay of recovery of the differential duty on the oxygen gas captively consumed. 4.The....