https://www.taxtmi.com/caselaws?id=170848 The High Court of Allahabad dismissed the appeal challenging the Tribunal's order regarding the inclusion of tooling cost in the assessable value of products under Section 35G of the Central Excise Act, 1944. The Tribunal accepted the appellant's argument that the non-inclusion was done under a bona fide belief, setting aside the penalty and interest imposed by the Assessing Officer. The Tribunal referred to conflicting decisions on the issue but ultimately held that the penalty and interest were not warranted. The appeal was dismissed, and no costs were awarded. en-us Wed, 16 May 2012 00:00:00 +0530 Sat, 20 Jun 2015 15:09:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170848 The High Court of Allahabad dismissed the appeal challenging the Tribunal's order regarding the inclusion of tooling cost in the assessable value of products under Section 35G of the Central Excise Act, 1944. The Tribunal accepted the appellant's argument that the non-inclusion was done under a bona fide belief, setting aside the penalty and interest imposed by the Assessing Officer. The Tribunal referred to conflicting decisions on the issue but ultimately held that the penalty and interest were not warranted. The appeal was dismissed, and no costs were awarded. Case-Laws Central Excise Wed, 16 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170848