https://www.taxtmi.com/caselaws?id=259150 The Compounded Levy Scheme valuation under Rule 96ZNB(1) required a declaration certified by a Chartered Accountant or Cost Accountant, and later notifications treating Accounting Standard 10 as clarificatory applied to that scheme. In the absence of contrary expert material, the adjudicating authority could not discard the Chartered Accountant's certificate and replace it with a presumptive or best-judgment valuation. The statutory scheme placed reliance on expert certification rather than unilateral departmental reassessment, so the finding that the original value of plant and machinery exceeded the prescribed limit was unsustainable and eligibility under the scheme was upheld. en-us Mon, 27 Apr 2015 00:00:00 +0530 Wed, 10 Feb 2016 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259150 The Compounded Levy Scheme valuation under Rule 96ZNB(1) required a declaration certified by a Chartered Accountant or Cost Accountant, and later notifications treating Accounting Standard 10 as clarificatory applied to that scheme. In the absence of contrary expert material, the adjudicating authority could not discard the Chartered Accountant's certificate and replace it with a presumptive or best-judgment valuation. The statutory scheme placed reliance on expert certification rather than unilateral departmental reassessment, so the finding that the original value of plant and machinery exceeded the prescribed limit was unsustainable and eligibility under the scheme was upheld. Case-Laws Central Excise Mon, 27 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259150