https://www.taxtmi.com/caselaws?id=114486 For captive-consumption valuation under Rule 6(b)(ii) of the Central Excise Valuation Rules, electricity used in yarn manufacture had to be valued on actual cost of production, not on an internal transfer price between divisions. The internal billing figure was treated as only a notional amount and an unreliable basis for valuation. On limitation, the extended period under the proviso to Section 11A of the Central Excise Act could not be invoked because the assessee had disclosed actual generation cost and there was no finding of suppression or intent to evade duty. The demand was therefore time-barred and the penalties could not survive. en-us Fri, 27 Aug 2004 00:00:00 +0530 Sat, 08 Jun 2024 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114486 For captive-consumption valuation under Rule 6(b)(ii) of the Central Excise Valuation Rules, electricity used in yarn manufacture had to be valued on actual cost of production, not on an internal transfer price between divisions. The internal billing figure was treated as only a notional amount and an unreliable basis for valuation. On limitation, the extended period under the proviso to Section 11A of the Central Excise Act could not be invoked because the assessee had disclosed actual generation cost and there was no finding of suppression or intent to evade duty. The demand was therefore time-barred and the penalties could not survive. Case-Laws Central Excise Fri, 27 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114486