https://www.taxtmi.com/caselaws?id=101621 In job-work manufacture of denatured spirits, the cost of denaturing agent supplied by the customer was held includible in assessable value, and the duty demand on valuation was sustained. Penalty under Rule 173Q was nevertheless set aside because the assessee acted under a bona fide belief on valuation, and similar proceedings on comparable facts had not attracted penalty. The note therefore distinguishes between acceptance of valuation for duty purposes and the separate question whether penal action was justified, with the penal consequence annulled. en-us Wed, 02 Jan 2002 00:00:00 +0530 Fri, 10 Feb 2012 13:49:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101621 In job-work manufacture of denatured spirits, the cost of denaturing agent supplied by the customer was held includible in assessable value, and the duty demand on valuation was sustained. Penalty under Rule 173Q was nevertheless set aside because the assessee acted under a bona fide belief on valuation, and similar proceedings on comparable facts had not attracted penalty. The note therefore distinguishes between acceptance of valuation for duty purposes and the separate question whether penal action was justified, with the penal consequence annulled. Case-Laws Central Excise Wed, 02 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101621