https://www.taxtmi.com/caselaws?id=117907 The appellant, a manufacturer of Video Magnetic Tapes (VMT) and Blank Video Cassettes (BVC), challenged an order requiring valuation of goods based on cost of production for central excise duty calculation instead of the sale price. The Tribunal upheld the wholesale price as the correct valuation method, emphasizing that goods should be valued based on the normal price at which they are sold unless such price is not available. The re-valuation order was deemed unsustainable as there were no valid grounds for rejecting the transaction values. The grading of VMT based on tape grade was also deemed acceptable as the Revenue failed to provide evidence challenging the grading process. The appeals were allowed in favor of the appellant. en-us Wed, 01 Feb 2006 00:00:00 +0530 Wed, 27 Jun 2012 13:08:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117907 The appellant, a manufacturer of Video Magnetic Tapes (VMT) and Blank Video Cassettes (BVC), challenged an order requiring valuation of goods based on cost of production for central excise duty calculation instead of the sale price. The Tribunal upheld the wholesale price as the correct valuation method, emphasizing that goods should be valued based on the normal price at which they are sold unless such price is not available. The re-valuation order was deemed unsustainable as there were no valid grounds for rejecting the transaction values. The grading of VMT based on tape grade was also deemed acceptable as the Revenue failed to provide evidence challenging the grading process. The appeals were allowed in favor of the appellant. Case-Laws Central Excise Wed, 01 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117907