https://www.taxtmi.com/caselaws?id=80124 Eligibility for exemption based on the value of installed plant and machinery required a proper item-wise valuation of only legally relevant machinery and related utility items. Reliance on the balance sheet was not sustainable because it had not been disclosed in the notice as a document proposed to be relied upon, depriving the appellants of a fair opportunity to meet that material. The chartered accountant's certificate also required factual scrutiny on each entry, as several items did not clearly constitute installed plant and machinery. The finding that the prescribed monetary limit was exceeded was therefore unsustainable, and the matter was remanded for fresh decision after proper verification. en-us Tue, 28 Jul 1987 00:00:00 +0530 Tue, 14 Jun 2011 18:47:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=80124 Eligibility for exemption based on the value of installed plant and machinery required a proper item-wise valuation of only legally relevant machinery and related utility items. Reliance on the balance sheet was not sustainable because it had not been disclosed in the notice as a document proposed to be relied upon, depriving the appellants of a fair opportunity to meet that material. The chartered accountant's certificate also required factual scrutiny on each entry, as several items did not clearly constitute installed plant and machinery. The finding that the prescribed monetary limit was exceeded was therefore unsustainable, and the matter was remanded for fresh decision after proper verification. Case-Laws Central Excise Tue, 28 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=80124