https://www.taxtmi.com/caselaws?id=126373 Duty on captively consumed goods valued under Rule 8 of the Central Excise Valuation Rules, 2000 was required to be computed on 115% of cost of production, and delayed payment made interest payable for the period of default. Penalty under Section 11AC of the Central Excise Act, 1944 was not sustainable because there was no suppression of facts, fraud, or intent to evade duty, and the demand had been raised within the normal limitation period. The duty and interest liability was upheld, while the penalty was deleted. en-us Tue, 12 May 2009 00:00:00 +0530 Tue, 06 Nov 2012 09:50:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126373 Duty on captively consumed goods valued under Rule 8 of the Central Excise Valuation Rules, 2000 was required to be computed on 115% of cost of production, and delayed payment made interest payable for the period of default. Penalty under Section 11AC of the Central Excise Act, 1944 was not sustainable because there was no suppression of facts, fraud, or intent to evade duty, and the demand had been raised within the normal limitation period. The duty and interest liability was upheld, while the penalty was deleted. Case-Laws Central Excise Tue, 12 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126373