https://www.taxtmi.com/caselaws?id=126260 For eligibility under the compounded levy scheme for processed textile fabrics, the "original value of investment in plant and machinery" must be determined in line with the applicable accounting standards, including Accounting Standard 10, when additional investment is made. The value cannot be assessed without considering whether earlier machinery was disposed of and how the Chartered Accountant's certification reflects the true fixed-asset position. Where the existing record is insufficient to establish the investment value on the relevant date, fresh factual verification is required and the adjudicating authority must reconsider eligibility on that basis. en-us Fri, 06 Mar 2009 00:00:00 +0530 Sat, 03 Nov 2012 17:39:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126260 For eligibility under the compounded levy scheme for processed textile fabrics, the "original value of investment in plant and machinery" must be determined in line with the applicable accounting standards, including Accounting Standard 10, when additional investment is made. The value cannot be assessed without considering whether earlier machinery was disposed of and how the Chartered Accountant's certification reflects the true fixed-asset position. Where the existing record is insufficient to establish the investment value on the relevant date, fresh factual verification is required and the adjudicating authority must reconsider eligibility on that basis. Case-Laws Central Excise Fri, 06 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126260