INDOGLASS PRIVATE LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner No. 1 is a Private Limited Company while the petitioner No. 2 is a partnership concern and the petitioner No. 3 is the Director and Share-holder of petitioner No. 1 and partner of petitioner No. 2.

(2.) The petitioners are manufacturing fibreglass cloth and tapes, varnished fibreglass cloth and tapes and mica tapes and sheets. Prior to October 2, 1972, the business was carried on in the name of partnership firm and on October 2, 1972, the petitioner No. 1 Company was incorporated and all the assets of the firm vested in petitioner No. 1 Company. The Company was manufacturing the products at Dombivali and at a later stage some products were manufactured at Worli.

(3.) In or about May 1971, Tariff Item No. 59 was introduced in the First Schedule of the Central Excises and Salt Act, 1944 and excise duty was levied on "electric insulation tapes". On June 19, 1971, the Collector of Bombay issued a Trade Notice bearing No. 110 stating therein that