https://www.taxtmi.com/caselaws?id=106959 Central excise valuation was reworked on the basis of the correct valuation principle applied to the same class of goods, and proportionate Modvat credit on duty-paid inputs was allowed because the department did not disprove use of those inputs in manufacture. The duty liability was consequently reduced to the revised figure. In view of the substantially lower surviving demand, the penalty under section 11AC and the penalty under Rule 173Q were reduced, while interest under section 11AB remained payable on the reduced duty liability until payment. en-us Fri, 27 Sep 2002 00:00:00 +0530 Fri, 16 Mar 2012 17:09:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106959 Central excise valuation was reworked on the basis of the correct valuation principle applied to the same class of goods, and proportionate Modvat credit on duty-paid inputs was allowed because the department did not disprove use of those inputs in manufacture. The duty liability was consequently reduced to the revised figure. In view of the substantially lower surviving demand, the penalty under section 11AC and the penalty under Rule 173Q were reduced, while interest under section 11AB remained payable on the reduced duty liability until payment. Case-Laws Central Excise Fri, 27 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106959