https://www.taxtmi.com/caselaws?id=101098 Extended limitation under the Central Excise Act applies where an assessee fails to follow revised valuation procedures, withholds material documents, and does not establish disclosure of contractual papers and purchase orders, supporting suppression and wilful misstatement. Transfer of an advance import licence by a buyer to permit duty-free raw-material imports constitutes additional monetary consideration relevant to valuation. That benefit must be treated as part of the price, but the assessable value must be worked back on a price-cum-duty basis rather than adding it directly to an inflated duty base. Amounts paid before the notice must be considered when redetermining duty and consequential penalty. en-us Tue, 22 Jan 2002 00:00:00 +0530 Wed, 08 Feb 2012 16:24:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101098 Extended limitation under the Central Excise Act applies where an assessee fails to follow revised valuation procedures, withholds material documents, and does not establish disclosure of contractual papers and purchase orders, supporting suppression and wilful misstatement. Transfer of an advance import licence by a buyer to permit duty-free raw-material imports constitutes additional monetary consideration relevant to valuation. That benefit must be treated as part of the price, but the assessable value must be worked back on a price-cum-duty basis rather than adding it directly to an inflated duty base. Amounts paid before the notice must be considered when redetermining duty and consequential penalty. Case-Laws Central Excise Tue, 22 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101098