https://www.taxtmi.com/caselaws?id=125398 Assessable value of goods manufactured on job work basis cannot be increased merely by adding Modvat credit earned by the manufacturer where the valuation issue is governed by the Larger Bench ruling in Dai Ichi Karkaria Ltd., as affirmed by the Supreme Court. The Commissioner (Appeals) had failed to apply that binding principle and had treated Modvat credit as an additional consideration for inclusion in assessable value. The impugned order was therefore set aside and the matter remanded for fresh decision in accordance with the settled valuation law. en-us Fri, 05 Dec 2008 00:00:00 +0530 Tue, 23 Oct 2012 17:07:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125398 Assessable value of goods manufactured on job work basis cannot be increased merely by adding Modvat credit earned by the manufacturer where the valuation issue is governed by the Larger Bench ruling in Dai Ichi Karkaria Ltd., as affirmed by the Supreme Court. The Commissioner (Appeals) had failed to apply that binding principle and had treated Modvat credit as an additional consideration for inclusion in assessable value. The impugned order was therefore set aside and the matter remanded for fresh decision in accordance with the settled valuation law. Case-Laws Central Excise Fri, 05 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125398