https://www.taxtmi.com/caselaws?id=108624 Valuation of captively consumed molasses was held to depend on reliable evidence of the applicable price basis. A committee-fixed price could not be used because the committee minutes were not produced and no statutory fixation was proved; the departmental instruction price was also unsupported by evidence. In that situation, valuation had to proceed under the relevant valuation rule on the basis of comparable contemporaneous purchases. The appellant's own three purchases during the same period were treated as reliable comparables, and the lowest contemporaneous purchase price was taken as the proper assessable value. en-us Tue, 29 Jul 2003 00:00:00 +0530 Tue, 03 Apr 2012 10:37:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108624 Valuation of captively consumed molasses was held to depend on reliable evidence of the applicable price basis. A committee-fixed price could not be used because the committee minutes were not produced and no statutory fixation was proved; the departmental instruction price was also unsupported by evidence. In that situation, valuation had to proceed under the relevant valuation rule on the basis of comparable contemporaneous purchases. The appellant's own three purchases during the same period were treated as reliable comparables, and the lowest contemporaneous purchase price was taken as the proper assessable value. Case-Laws Central Excise Tue, 29 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108624