https://www.taxtmi.com/caselaws?id=128013 The Appellate Tribunal CESTAT Chennai ruled in favor of the Appellant in a case concerning the valuation of goods for central excise duty. The Tribunal held that the valuation should be done in accordance with Rule 7 of the Central Excise (Valuation) Rules, 2000, which requires considering the price at the time nearest to the removal of goods. As the goods were transferred to the Appellant's own depots, the Tribunal determined that the value prevailing at the depot on 9-5-05 should be used for valuation instead of a higher value from 27-4-05. Consequently, the demand against the Appellant was deemed unsustainable, leading to the waiver of the pre-deposit requirement and a stay of the impugned order during the appeal process. en-us Wed, 29 Jul 2009 00:00:00 +0530 Mon, 25 Mar 2013 17:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128013 The Appellate Tribunal CESTAT Chennai ruled in favor of the Appellant in a case concerning the valuation of goods for central excise duty. The Tribunal held that the valuation should be done in accordance with Rule 7 of the Central Excise (Valuation) Rules, 2000, which requires considering the price at the time nearest to the removal of goods. As the goods were transferred to the Appellant's own depots, the Tribunal determined that the value prevailing at the depot on 9-5-05 should be used for valuation instead of a higher value from 27-4-05. Consequently, the demand against the Appellant was deemed unsustainable, leading to the waiver of the pre-deposit requirement and a stay of the impugned order during the appeal process. Case-Laws Central Excise Wed, 29 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128013