https://www.taxtmi.com/caselaws?id=246322 Where excisable goods are transferred to a depot and no sale at or about the time of removal is available, Rule 7 of the Central Excise Valuation Rules permits adoption of the transaction value from the nearest available depot sale. Applied here, the first depot sale after the factory clearances was treated as the relevant benchmark, so the assessable value was upheld on that basis. The associated penalty was deleted because the dispute concerned interpretation of the valuation rules and arose in relation to initial clearances, making the penalty excessive in the circumstances. en-us Fri, 02 Dec 2011 00:00:00 +0530 Sun, 20 Apr 2014 16:01:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246322 Where excisable goods are transferred to a depot and no sale at or about the time of removal is available, Rule 7 of the Central Excise Valuation Rules permits adoption of the transaction value from the nearest available depot sale. Applied here, the first depot sale after the factory clearances was treated as the relevant benchmark, so the assessable value was upheld on that basis. The associated penalty was deleted because the dispute concerned interpretation of the valuation rules and arose in relation to initial clearances, making the penalty excessive in the circumstances. Case-Laws Central Excise Fri, 02 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246322