https://www.taxtmi.com/caselaws?id=107135 Steel strips partly sold in the open market to independent buyers were to be valued under section 4(1)(a) of the Central Excise Act, 1944 on the actual sale price, because relevant market-sale data was available and had been disclosed in the Rule 173C declaration. Where the goods were in fact sold to independent buyers, there was no basis to ignore the sale price and adopt cost of production under Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975. The assessable value was therefore required to be taken from the open-market price, not production cost. en-us Thu, 19 Dec 2002 00:00:00 +0530 Sat, 17 Mar 2012 18:15:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107135 Steel strips partly sold in the open market to independent buyers were to be valued under section 4(1)(a) of the Central Excise Act, 1944 on the actual sale price, because relevant market-sale data was available and had been disclosed in the Rule 173C declaration. Where the goods were in fact sold to independent buyers, there was no basis to ignore the sale price and adopt cost of production under Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975. The assessable value was therefore required to be taken from the open-market price, not production cost. Case-Laws Central Excise Thu, 19 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107135