https://www.taxtmi.com/caselaws?id=106897 Duty on captively consumed stove parts was accepted in principle, but the assessable value was reduced to the figure supported by the Cost Accountant's report, and the higher valuation was set aside. Demands for clandestine removal and scrap sales were rejected because they lacked tangible corroborative evidence and did not adequately address the explanations for wastage, fire damage, and recorded scrap sales. Modvat credit earlier allowed was maintained because the remand was limited and there was no proper basis to withdraw the credit beyond that scope. Penalties were reduced substantially in view of the curtailed demand, while the redemption fine was maintained as reasonable. en-us Fri, 25 Oct 2002 00:00:00 +0530 Fri, 16 Mar 2012 12:09:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106897 Duty on captively consumed stove parts was accepted in principle, but the assessable value was reduced to the figure supported by the Cost Accountant's report, and the higher valuation was set aside. Demands for clandestine removal and scrap sales were rejected because they lacked tangible corroborative evidence and did not adequately address the explanations for wastage, fire damage, and recorded scrap sales. Modvat credit earlier allowed was maintained because the remand was limited and there was no proper basis to withdraw the credit beyond that scope. Penalties were reduced substantially in view of the curtailed demand, while the redemption fine was maintained as reasonable. Case-Laws Central Excise Fri, 25 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106897