https://www.taxtmi.com/caselaws?id=95446 For excise valuation of molasses, only a price fixed under valid legal authority can be treated as the normal price under the valuation proviso; informal administrative discussions do not amount to lawful price fixation. The record did not show any statutory fixation of molasses at Rs. 300 per quintal under the relevant control law, and there was no basis to treat that figure as the assessable value. In the absence of valid legal fixation or evidence of receipt above Rs. 200 per quintal, the higher valuation could not be sustained and the demand failed. en-us Thu, 25 Jan 2001 00:00:00 +0530 Mon, 12 Dec 2011 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95446 For excise valuation of molasses, only a price fixed under valid legal authority can be treated as the normal price under the valuation proviso; informal administrative discussions do not amount to lawful price fixation. The record did not show any statutory fixation of molasses at Rs. 300 per quintal under the relevant control law, and there was no basis to treat that figure as the assessable value. In the absence of valid legal fixation or evidence of receipt above Rs. 200 per quintal, the higher valuation could not be sustained and the demand failed. Case-Laws Central Excise Thu, 25 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95446