https://www.taxtmi.com/caselaws?id=104202 The Tribunal held in favor of the appellant, rejecting the Commissioner's valuation approach based on subsequent contracts and confirming that prices from earlier contracts were correct assessable values. The imposition of duty, personal penalty, and interest under Sections 11AC and 11AB was set aside as the Tribunal found no fraud or intent to evade duty. The Tribunal emphasized that prices in contracts with M/s. Taxmaco Ltd. were not comparable for assessable value determination and dropped the demand for back stops supplied to a different entity. Penalties were also not justified, leading to the appeal being allowed and the impugned order being overturned. en-us Mon, 22 Apr 2002 00:00:00 +0530 Tue, 28 Feb 2012 12:15:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104202 The Tribunal held in favor of the appellant, rejecting the Commissioner's valuation approach based on subsequent contracts and confirming that prices from earlier contracts were correct assessable values. The imposition of duty, personal penalty, and interest under Sections 11AC and 11AB was set aside as the Tribunal found no fraud or intent to evade duty. The Tribunal emphasized that prices in contracts with M/s. Taxmaco Ltd. were not comparable for assessable value determination and dropped the demand for back stops supplied to a different entity. Penalties were also not justified, leading to the appeal being allowed and the impugned order being overturned. Case-Laws Central Excise Mon, 22 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104202