COLLECTOR OF CENTRAL EXCISE, BARODA vs M/S. COTSPUN LTD.

The Supreme Court addressed the conflict between two prior decisions regarding the classification of NES yarn under the Central Excise Rules, 1944. The Court held that once a classification list is approved under Rule 173B, it cannot be reopened for reassessment unless there is a clear basis for doing so, as per Rule 10 regarding recovery of duties. The Tribunal's decision to quash the demands for differential duty was upheld, affirming that revised assessments can only be applied prospectively from the date of the show cause notices.