https://www.taxtmi.com/caselaws?id=109199 Amended contractual terms governing gas price could not be ignored for excise valuation unless shown to be a sham or not at arm's length. Where the parties validly substituted the original project-cost formula with revised amendments, the assessable value had to be examined on the basis of the operative contract, with only any additional consideration flowing directly or indirectly from the buyer capable of inclusion. The record also required fresh examination of whether notional power cost, power-related benefits, and minimum take or pay receipts formed part of assessable value. Limitation and penalty were likewise left open for reconsideration in de novo proceedings. en-us Fri, 08 Nov 2002 00:00:00 +0530 Fri, 06 Apr 2012 14:49:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109199 Amended contractual terms governing gas price could not be ignored for excise valuation unless shown to be a sham or not at arm's length. Where the parties validly substituted the original project-cost formula with revised amendments, the assessable value had to be examined on the basis of the operative contract, with only any additional consideration flowing directly or indirectly from the buyer capable of inclusion. The record also required fresh examination of whether notional power cost, power-related benefits, and minimum take or pay receipts formed part of assessable value. Limitation and penalty were likewise left open for reconsideration in de novo proceedings. Case-Laws Central Excise Fri, 08 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109199