https://www.taxtmi.com/caselaws?id=153472 Pharmaceutical goods manufactured on a job-work basis for a loan licensee were not liable to valuation on the loan licensee's depot sale price because no sale took place between the manufacturer and the loan licensee. In that situation, transaction value did not apply and valuation had to proceed under the residual method on a cost-construction basis, using raw material cost, packing material cost and job charges. The depot sale price of the loan licensee was therefore rejected, and the assessable value was determined on the accepted job-work formula in favour of the assessee. en-us Tue, 19 May 2009 00:00:00 +0530 Mon, 17 Jul 2017 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153472 Pharmaceutical goods manufactured on a job-work basis for a loan licensee were not liable to valuation on the loan licensee's depot sale price because no sale took place between the manufacturer and the loan licensee. In that situation, transaction value did not apply and valuation had to proceed under the residual method on a cost-construction basis, using raw material cost, packing material cost and job charges. The depot sale price of the loan licensee was therefore rejected, and the assessable value was determined on the accepted job-work formula in favour of the assessee. Case-Laws Central Excise Tue, 19 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153472