https://www.taxtmi.com/caselaws?id=109794 Extended limitation could not be invoked where price declarations and cost data had already been filed, the valuation method had earlier been questioned by the Department, and no suppression or misrepresentation was shown; the demand was therefore confined to the normal period. For stock transfer clearances, assessable value had to be determined on the full cost of manufacture under the valuation rules, not on a narrower conversion cost, and chartered-accountancy guidance could not override that statutory method. The duty and penalty orders were set aside and the matter remitted for recomputation on the basis of normal limitation, with penalty to be reconsidered accordingly. en-us Fri, 24 Jan 2003 00:00:00 +0530 Wed, 11 Apr 2012 18:33:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109794 Extended limitation could not be invoked where price declarations and cost data had already been filed, the valuation method had earlier been questioned by the Department, and no suppression or misrepresentation was shown; the demand was therefore confined to the normal period. For stock transfer clearances, assessable value had to be determined on the full cost of manufacture under the valuation rules, not on a narrower conversion cost, and chartered-accountancy guidance could not override that statutory method. The duty and penalty orders were set aside and the matter remitted for recomputation on the basis of normal limitation, with penalty to be reconsidered accordingly. Case-Laws Central Excise Fri, 24 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109794