https://www.taxtmi.com/caselaws?id=218279 Amounts received from the buyer as tooling advance and the value of free-of-cost inputs were held includible in assessable value because they formed part of the commercial consideration under the valuation rules; the majority also found non-disclosure of the arrangement sufficient to justify invocation of the extended period. Cenvat credit taken on inputs found short and later written off was held reversible on merits, and the suppression of shortages supported extended limitation. The connected penalties on the company and its employees were sustained, with only the direction that duty and interest already paid towards tooling advance would not be refunded. en-us Thu, 17 Nov 2011 00:00:00 +0530 Mon, 03 Jun 2013 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218279 Amounts received from the buyer as tooling advance and the value of free-of-cost inputs were held includible in assessable value because they formed part of the commercial consideration under the valuation rules; the majority also found non-disclosure of the arrangement sufficient to justify invocation of the extended period. Cenvat credit taken on inputs found short and later written off was held reversible on merits, and the suppression of shortages supported extended limitation. The connected penalties on the company and its employees were sustained, with only the direction that duty and interest already paid towards tooling advance would not be refunded. Case-Laws Central Excise Thu, 17 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218279