https://www.taxtmi.com/caselaws?id=170289 An amount payable under Rule 6(3)(b) of the Cenvat Credit Rules, 2002 is an adjustment for inadmissible credit and not excise duty or tax, so it cannot be deducted from transaction value for valuation purposes. The differential duty remained payable. On penalty, where the invoices themselves reflected the price reduction and there was no suppression or concealment from the department, a bona fide belief could exist and the penalty was not sustainable. The assessee therefore retained liability for the duty demand but obtained relief from penalty. en-us Fri, 19 Nov 2010 00:00:00 +0530 Fri, 29 Sep 2017 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170289 An amount payable under Rule 6(3)(b) of the Cenvat Credit Rules, 2002 is an adjustment for inadmissible credit and not excise duty or tax, so it cannot be deducted from transaction value for valuation purposes. The differential duty remained payable. On penalty, where the invoices themselves reflected the price reduction and there was no suppression or concealment from the department, a bona fide belief could exist and the penalty was not sustainable. The assessee therefore retained liability for the duty demand but obtained relief from penalty. Case-Laws Central Excise Fri, 19 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170289