https://www.taxtmi.com/caselaws?id=251987 For captively consumed polyamide chips, valuation should follow the comparable market price method under Rule 6(b)(i) of the Central Excise Valuation Rules, 1975 where an open-market price is available, rather than the cost of production plus profit method under Rule 6(b)(ii). The commentary explains that the appellant had also purchased the same material from the market, making the comparable-price rule applicable. It further states that, on this valuation interpretation, invocation of the extended period of limitation was not justified and the demand based on that approach could not stand. The impugned order was set aside and the appeal succeeded with consequential relief. en-us Wed, 13 Aug 2014 00:00:00 +0530 Tue, 07 Oct 2014 08:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251987 For captively consumed polyamide chips, valuation should follow the comparable market price method under Rule 6(b)(i) of the Central Excise Valuation Rules, 1975 where an open-market price is available, rather than the cost of production plus profit method under Rule 6(b)(ii). The commentary explains that the appellant had also purchased the same material from the market, making the comparable-price rule applicable. It further states that, on this valuation interpretation, invocation of the extended period of limitation was not justified and the demand based on that approach could not stand. The impugned order was set aside and the appeal succeeded with consequential relief. Case-Laws Central Excise Wed, 13 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251987