https://www.taxtmi.com/caselaws?id=250901 Private records recovered from an assessee may carry a presumption of truth, but allegations of clandestine removal still require independent corroboration of raw-material procurement, manufacture, transport, buyers and cash flow; absent such evidence, the demand cannot stand, though one code-based component was remanded for fresh scrutiny. Valuation demands must be tested under the correct regime, with pre-01.07.2000 assessments governed by normal price principles and later periods by transaction value and place of removal rules; trade discounts actually passed on are deductible and freight from factory to depot is not automatically includible. Credit denial based only on weighment variations and alleged short receipt was unsustainable, and consequential penalties and interest fell with the main demands. en-us Fri, 01 Aug 2014 00:00:00 +0530 Sat, 13 Feb 2016 13:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250901 Private records recovered from an assessee may carry a presumption of truth, but allegations of clandestine removal still require independent corroboration of raw-material procurement, manufacture, transport, buyers and cash flow; absent such evidence, the demand cannot stand, though one code-based component was remanded for fresh scrutiny. Valuation demands must be tested under the correct regime, with pre-01.07.2000 assessments governed by normal price principles and later periods by transaction value and place of removal rules; trade discounts actually passed on are deductible and freight from factory to depot is not automatically includible. Credit denial based only on weighment variations and alleged short receipt was unsustainable, and consequential penalties and interest fell with the main demands. Case-Laws Central Excise Fri, 01 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250901