https://www.taxtmi.com/caselaws?id=118879 Captively consumed diesel engines must be valued on the basis of cost of production under CAS-4 where no market price is available, and incomplete cost certificates that omit material overheads do not satisfy the prescribed valuation standard; the assessable value must therefore be reworked accordingly. Where the declaration is based on such an incomplete certificate and the omitted cost elements are not disclosed, extended limitation may be invoked on the ground of suppression or misdeclaration. A penalty under Rule 209A cannot be sustained unless the necessary ingredients are specifically found on the record. en-us Wed, 19 Oct 2005 00:00:00 +0530 Fri, 06 Jul 2012 14:30:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118879 Captively consumed diesel engines must be valued on the basis of cost of production under CAS-4 where no market price is available, and incomplete cost certificates that omit material overheads do not satisfy the prescribed valuation standard; the assessable value must therefore be reworked accordingly. Where the declaration is based on such an incomplete certificate and the omitted cost elements are not disclosed, extended limitation may be invoked on the ground of suppression or misdeclaration. A penalty under Rule 209A cannot be sustained unless the necessary ingredients are specifically found on the record. Case-Laws Central Excise Wed, 19 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118879