https://www.taxtmi.com/caselaws?id=212150 Valuation of captive clearances to sister units must reflect the ordinary profit element under the valuation rules, and gross profit shown in the preceding year's audited accounts cannot be mechanically substituted where it is not the profit actually earned on sale of the goods. The dispute was also treated as revenue-neutral because duty paid by one unit would have been available as credit to the other unit within the same company. In light of an earlier decision on the same issue, the Revenue's challenge was rejected and the assessee's valuation was left undisturbed. en-us Wed, 20 Apr 2011 00:00:00 +0530 Wed, 28 Mar 2012 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212150 Valuation of captive clearances to sister units must reflect the ordinary profit element under the valuation rules, and gross profit shown in the preceding year's audited accounts cannot be mechanically substituted where it is not the profit actually earned on sale of the goods. The dispute was also treated as revenue-neutral because duty paid by one unit would have been available as credit to the other unit within the same company. In light of an earlier decision on the same issue, the Revenue's challenge was rejected and the assessee's valuation was left undisturbed. Case-Laws Central Excise Wed, 20 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212150