https://www.taxtmi.com/caselaws?id=107940 The Tribunal ruled in favor of the appellant, a manufacturer of electron guns, in a central excise duty case involving sales to group companies. The Tribunal held that the negotiated sale prices to related parties were commercially justified and could be accepted as the assessable value for duty calculation. It rejected the Revenue's contention that the prices were undervalued, citing precedents supporting similar transactions. The Tribunal also allowed Modvat credit entitlement for the recipient companies, finding no evidence of undervaluation to reduce duty liability. Penalties imposed on the appellant and its officials were set aside as unjustified. en-us Mon, 08 Sep 2003 00:00:00 +0530 Tue, 27 Mar 2012 18:27:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107940 The Tribunal ruled in favor of the appellant, a manufacturer of electron guns, in a central excise duty case involving sales to group companies. The Tribunal held that the negotiated sale prices to related parties were commercially justified and could be accepted as the assessable value for duty calculation. It rejected the Revenue's contention that the prices were undervalued, citing precedents supporting similar transactions. The Tribunal also allowed Modvat credit entitlement for the recipient companies, finding no evidence of undervaluation to reduce duty liability. Penalties imposed on the appellant and its officials were set aside as unjustified. Case-Laws Central Excise Mon, 08 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107940