https://www.taxtmi.com/caselaws?id=94328 Under valuation determined on Rule 7 read with Rule 6(b)(ii) of the Excise Valuation Rules and Section 4(1)(b) of the Central Excises and Salt Act, 1944, excise duty paid on duty-paid raw materials on which credit had been taken was not includible in the assessable value of the finished goods, and the assessee succeeded on the principal valuation issue. Penalties founded solely on that valuation dispute could not survive once the main issue was decided in favour of the assessee, so they were set aside in the connected appeals. In the separate appeal concerning undisclosed transportation cost and chemical consumables, the omission was treated as deliberate and penalty was reduced rather than cancelled. en-us Mon, 19 Feb 1996 00:00:00 +0530 Mon, 21 Nov 2011 16:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94328 Under valuation determined on Rule 7 read with Rule 6(b)(ii) of the Excise Valuation Rules and Section 4(1)(b) of the Central Excises and Salt Act, 1944, excise duty paid on duty-paid raw materials on which credit had been taken was not includible in the assessable value of the finished goods, and the assessee succeeded on the principal valuation issue. Penalties founded solely on that valuation dispute could not survive once the main issue was decided in favour of the assessee, so they were set aside in the connected appeals. In the separate appeal concerning undisclosed transportation cost and chemical consumables, the omission was treated as deliberate and penalty was reduced rather than cancelled. Case-Laws Central Excise Mon, 19 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94328