https://www.taxtmi.com/caselaws?id=87289 Captively consumed electric motors must be valued under Rule 6(b)(ii) of the Central Excise Valuation Rules, 1975 on a cost-plus basis, using raw material cost, manufacturing cost and profit margin, and not by adopting a notional sale price from private records. The Department did not identify any defect in the declared cost elements, so the valuation method it used was invalid. On limitation, the extended period could not be invoked because the relevant facts were already known and no suppression of the required valuation elements was shown; the later notice was therefore time-barred and the earlier notice also failed. en-us Fri, 19 Sep 1997 00:00:00 +0530 Mon, 05 Sep 2011 10:40:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87289 Captively consumed electric motors must be valued under Rule 6(b)(ii) of the Central Excise Valuation Rules, 1975 on a cost-plus basis, using raw material cost, manufacturing cost and profit margin, and not by adopting a notional sale price from private records. The Department did not identify any defect in the declared cost elements, so the valuation method it used was invalid. On limitation, the extended period could not be invoked because the relevant facts were already known and no suppression of the required valuation elements was shown; the later notice was therefore time-barred and the earlier notice also failed. Case-Laws Central Excise Fri, 19 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87289