https://www.taxtmi.com/caselaws?id=105971 Excise valuation of paper reels sent for job-work depended on the condition of the goods at the time and place of factory removal. The majority treated the assessable value as the normal price of reels when cleared from the factory, not the higher price of sheets obtained only after conversion and later sale. The fact that the reels were ultimately marketed as sheets did not alter the valuation basis for the goods removed from the factory. The analysis therefore supports valuation by reference to the factory-clearance price of reels. A dissenting view considered the goods to remain assessable as reels despite later conversion. en-us Mon, 20 Sep 1999 00:00:00 +0530 Mon, 12 Mar 2012 11:48:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105971 Excise valuation of paper reels sent for job-work depended on the condition of the goods at the time and place of factory removal. The majority treated the assessable value as the normal price of reels when cleared from the factory, not the higher price of sheets obtained only after conversion and later sale. The fact that the reels were ultimately marketed as sheets did not alter the valuation basis for the goods removed from the factory. The analysis therefore supports valuation by reference to the factory-clearance price of reels. A dissenting view considered the goods to remain assessable as reels despite later conversion. Case-Laws Central Excise Mon, 20 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105971