https://www.taxtmi.com/caselaws?id=108181 Captive consumption valuation of molasses was assessed by reference to the comparable purchase price paid by Western Maharashtra Development Corporation, because no statutory price fixation for the relevant period was shown. A committee recommendation could not be treated as a statutory price or a valid valuation basis without supporting statutory instrument, and the objection that the purchaser was not the manufacturer did not defeat reliance on a market-reflective comparable price where geographical proximity was satisfied. The plea that the corporation bought inferior grades also failed for lack of evidence, and a different valuation adopted in another matter was not persuasive because it turned on its own record. en-us Wed, 19 Dec 2001 00:00:00 +0530 Fri, 30 Mar 2012 14:06:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108181 Captive consumption valuation of molasses was assessed by reference to the comparable purchase price paid by Western Maharashtra Development Corporation, because no statutory price fixation for the relevant period was shown. A committee recommendation could not be treated as a statutory price or a valid valuation basis without supporting statutory instrument, and the objection that the purchaser was not the manufacturer did not defeat reliance on a market-reflective comparable price where geographical proximity was satisfied. The plea that the corporation bought inferior grades also failed for lack of evidence, and a different valuation adopted in another matter was not persuasive because it turned on its own record. Case-Laws Central Excise Wed, 19 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108181