https://www.taxtmi.com/caselaws?id=86658 Captively consumed molasses under Rule 6(b)(i) of the Central Excise (Valuation) Rules, 1975 must be valued by reference to comparable goods manufactured and sold by the assessee or by other assessees. The deeming fiction in proviso (ii) to Section 4(1)(a) applies only where goods are actually sold at a price fixed under law and cannot be extended to captively consumed goods. A controlled price fixed under price-control law therefore cannot be adopted for such captive consumption. The appropriate basis is comparable sales at or about the relevant time, with an average price taken if necessary where sales prices vary. en-us Mon, 31 Mar 1997 00:00:00 +0530 Fri, 26 Aug 2011 12:46:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86658 Captively consumed molasses under Rule 6(b)(i) of the Central Excise (Valuation) Rules, 1975 must be valued by reference to comparable goods manufactured and sold by the assessee or by other assessees. The deeming fiction in proviso (ii) to Section 4(1)(a) applies only where goods are actually sold at a price fixed under law and cannot be extended to captively consumed goods. A controlled price fixed under price-control law therefore cannot be adopted for such captive consumption. The appropriate basis is comparable sales at or about the relevant time, with an average price taken if necessary where sales prices vary. Case-Laws Central Excise Mon, 31 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86658