https://www.taxtmi.com/caselaws?id=116460 Returned rejected aluminium foil and related scrap processed by lamination, slitting, trimming and allied operations was held to attract excise manufacture and valuation principles once the goods became marketable. The department's demand based on an assumed scrap percentage and Modvat reversal approach was not sustained because it rested on assumptions rather than reliable accounting data or proof. The reprocessed goods were to be assessed under the manufacturing framework, the penalty was set aside, and the refund claim for duty already paid was remitted for fresh consideration under the returned-goods procedure. en-us Fri, 17 Jun 2005 00:00:00 +0530 Tue, 12 Jun 2012 16:49:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116460 Returned rejected aluminium foil and related scrap processed by lamination, slitting, trimming and allied operations was held to attract excise manufacture and valuation principles once the goods became marketable. The department's demand based on an assumed scrap percentage and Modvat reversal approach was not sustained because it rested on assumptions rather than reliable accounting data or proof. The reprocessed goods were to be assessed under the manufacturing framework, the penalty was set aside, and the refund claim for duty already paid was remitted for fresh consideration under the returned-goods procedure. Case-Laws Central Excise Fri, 17 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116460