https://www.taxtmi.com/caselaws?id=113664 In a job-work valuation dispute, assessable value must be computed under settled job-work principles, namely the value of raw materials, job charges, manufacturing expenses and manufacturing profit, without adding the buyer's post-manufacturing depot selling price. The principal-agent theory was rejected because the record did not show any authorization or factual basis for treating the manufacturer as the buyer's agent, and no related-person relationship or mutuality of interest was established. The resulting duty demand could not be sustained, and the consequential penalty and interest also failed. The document confirms that depot price cannot replace job-work valuation absent a legally relevant relationship. en-us Fri, 30 May 2003 00:00:00 +0530 Mon, 07 May 2012 14:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113664 In a job-work valuation dispute, assessable value must be computed under settled job-work principles, namely the value of raw materials, job charges, manufacturing expenses and manufacturing profit, without adding the buyer's post-manufacturing depot selling price. The principal-agent theory was rejected because the record did not show any authorization or factual basis for treating the manufacturer as the buyer's agent, and no related-person relationship or mutuality of interest was established. The resulting duty demand could not be sustained, and the consequential penalty and interest also failed. The document confirms that depot price cannot replace job-work valuation absent a legally relevant relationship. Case-Laws Central Excise Fri, 30 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113664