https://www.taxtmi.com/caselaws?id=96200 Valuation under the excise rules cannot be shifted to comparable goods where excisable goods are sold to an independent buyer at open auction for the sole consideration of price and the transaction value is available and has not been rejected. In that situation, the actual sale price remains the proper basis for assessment, so a differential duty demand founded on comparable prices is unsustainable. Because the penalty depended on the same valuation basis, it also fails. en-us Mon, 25 Jun 2001 00:00:00 +0530 Tue, 20 Dec 2011 10:37:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96200 Valuation under the excise rules cannot be shifted to comparable goods where excisable goods are sold to an independent buyer at open auction for the sole consideration of price and the transaction value is available and has not been rejected. In that situation, the actual sale price remains the proper basis for assessment, so a differential duty demand founded on comparable prices is unsustainable. Because the penalty depended on the same valuation basis, it also fails. Case-Laws Central Excise Mon, 25 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96200