https://www.taxtmi.com/circulars?id=52638 The circular limits rejection of declared transaction value to cases matching the factual scope of the FIAT judgment and excludes a general rule that sub cost selling alone permits rejection. Officers should verify loss making pricing during audits, using CAS 4 for cost calculations and accepting accountant certified data unless Commissioner authorises cost audit or summons. The circular treats abnormally low pricing as extra commercial consideration for post judgment sales-potentially amounting to wilful misstatement-but advises that for periods before the judgment extended limitation may not apply where FIAT alone is the basis for scrutiny. en-us Wed, 15 Jan 2014 00:00:00 +0530 Thu, 16 Jan 2014 09:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52638 The circular limits rejection of declared transaction value to cases matching the factual scope of the FIAT judgment and excludes a general rule that sub cost selling alone permits rejection. Officers should verify loss making pricing during audits, using CAS 4 for cost calculations and accepting accountant certified data unless Commissioner authorises cost audit or summons. The circular treats abnormally low pricing as extra commercial consideration for post judgment sales-potentially amounting to wilful misstatement-but advises that for periods before the judgment extended limitation may not apply where FIAT alone is the basis for scrutiny. Circulars Central Excise Wed, 15 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52638