https://www.taxtmi.com/caselaws?id=117453 Where the same goods were sold to dealers at a wholesale price, stock transfers to a sister unit were required to be valued on the normal price basis rather than on a cost-construction method, and the assessee's lower valuation was rejected. Non-disclosure of the higher dealer price in declarations amounted to suppression of material facts with intent to evade duty, so the extended period of limitation was invocable. On the same finding of suppression, statutory penalty was attracted; the separate penalty was set aside, while the penalty under the main provision was retained in reduced form. en-us Thu, 16 Feb 2006 00:00:00 +0530 Fri, 22 Jun 2012 17:15:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117453 Where the same goods were sold to dealers at a wholesale price, stock transfers to a sister unit were required to be valued on the normal price basis rather than on a cost-construction method, and the assessee's lower valuation was rejected. Non-disclosure of the higher dealer price in declarations amounted to suppression of material facts with intent to evade duty, so the extended period of limitation was invocable. On the same finding of suppression, statutory penalty was attracted; the separate penalty was set aside, while the penalty under the main provision was retained in reduced form. Case-Laws Central Excise Thu, 16 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117453