https://www.taxtmi.com/caselaws?id=114145 The Tribunal upheld the determination of value under Rule 6(b)(ii) and the inclusion of a 10% notional profit in the cost of production. The invocation of the extended period of limitation was also upheld. The penalty under Section 11AC was reduced to Rs. 1 crore, and interest under Section 11AB was to be calculated as per the Tribunal's observations. The penalty on the Executive Vice-Chairman was set aside, while the penalty on the Manager Marketing was upheld. The appeals were partly allowed based on these findings. en-us Fri, 01 Oct 2004 00:00:00 +0530 Wed, 05 Jun 2024 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114145 The Tribunal upheld the determination of value under Rule 6(b)(ii) and the inclusion of a 10% notional profit in the cost of production. The invocation of the extended period of limitation was also upheld. The penalty under Section 11AC was reduced to Rs. 1 crore, and interest under Section 11AB was to be calculated as per the Tribunal's observations. The penalty on the Executive Vice-Chairman was set aside, while the penalty on the Manager Marketing was upheld. The appeals were partly allowed based on these findings. Case-Laws Central Excise Fri, 01 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114145