https://www.taxtmi.com/caselaws?id=85807 In job-work processing, assessable value is confined to the grey cloth, job-work charges, processing expenses and the processor's profit; the buyers' resale price cannot be used where it includes post-processing additions. The relationship between the supplying firms and the purchasing company was treated as non-arm's length because of close family control and common business interest, so the transactions were not accepted as genuine principal-to-principal dealings. Cash discount available under the sale terms and uniformly available incentive bonus were deductible, and post-processing expenses could not be loaded into valuation. On that basis, the confiscation and penalty based on the erroneous valuation were set aside. en-us Wed, 18 Sep 1996 00:00:00 +0530 Mon, 08 Aug 2011 12:44:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85807 In job-work processing, assessable value is confined to the grey cloth, job-work charges, processing expenses and the processor's profit; the buyers' resale price cannot be used where it includes post-processing additions. The relationship between the supplying firms and the purchasing company was treated as non-arm's length because of close family control and common business interest, so the transactions were not accepted as genuine principal-to-principal dealings. Cash discount available under the sale terms and uniformly available incentive bonus were deductible, and post-processing expenses could not be loaded into valuation. On that basis, the confiscation and penalty based on the erroneous valuation were set aside. Case-Laws Central Excise Wed, 18 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85807