https://www.taxtmi.com/caselaws?id=107269 PTFE valuation for excise duty had to be based on the unit sale price of the goods sold, not on balance-sheet figures that included unrelated trading items. Because part of the production was sold to independent buyers and those prices reflected the normal price, the annual production value, including captively consumed quantities, was required to be computed under the Central Excise valuation scheme on that basis. On the correct computation, the production remained within the exemption limit, so the duty demand, penalty, and consequential liability could not be sustained. en-us Mon, 10 Feb 2003 00:00:00 +0530 Wed, 21 Mar 2012 11:57:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107269 PTFE valuation for excise duty had to be based on the unit sale price of the goods sold, not on balance-sheet figures that included unrelated trading items. Because part of the production was sold to independent buyers and those prices reflected the normal price, the annual production value, including captively consumed quantities, was required to be computed under the Central Excise valuation scheme on that basis. On the correct computation, the production remained within the exemption limit, so the duty demand, penalty, and consequential liability could not be sustained. Case-Laws Central Excise Mon, 10 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107269