https://www.taxtmi.com/caselaws?id=153643 Undervaluation-based excise duty demand cannot be sustained on recovered price lists, cost sheets and retracted third-party statements unless there is positive, corroborated evidence of extra consideration and a reliable evidentiary chain. The material here was found insufficient because the statements were substantially retracted, allegedly coerced, and did not establish actual sale price across the dealer and customer base. By contrast, clearances under invoices of another firm and the irregular retention of Cenvat credit were supported by the record and remained sustainable. The commentary also notes that penalty proceedings were remitted for fresh adjudication in light of the findings on undervaluation. en-us Wed, 25 Nov 2009 00:00:00 +0530 Fri, 26 Jul 2013 11:51:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153643 Undervaluation-based excise duty demand cannot be sustained on recovered price lists, cost sheets and retracted third-party statements unless there is positive, corroborated evidence of extra consideration and a reliable evidentiary chain. The material here was found insufficient because the statements were substantially retracted, allegedly coerced, and did not establish actual sale price across the dealer and customer base. By contrast, clearances under invoices of another firm and the irregular retention of Cenvat credit were supported by the record and remained sustainable. The commentary also notes that penalty proceedings were remitted for fresh adjudication in light of the findings on undervaluation. Case-Laws Central Excise Wed, 25 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153643