https://www.taxtmi.com/caselaws?id=2127 For captive consumption of excisable goods, assessable value must be fixed on the normal price where ascertainable, or otherwise on the nearest ascertainable equivalent under the valuation rules. Comparable goods value must be used with reasonable adjustments for relevant differences, and a valuation cannot be rejected merely because the department relied on the highest price of a day. The tribunal was found not to have determined the proper price or the basis for arriving at it, so its approach was not legally tenable and the matter required fresh consideration by the appellate authority. en-us Mon, 12 Nov 2007 00:00:00 +0530 Thu, 24 Apr 2008 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2127 For captive consumption of excisable goods, assessable value must be fixed on the normal price where ascertainable, or otherwise on the nearest ascertainable equivalent under the valuation rules. Comparable goods value must be used with reasonable adjustments for relevant differences, and a valuation cannot be rejected merely because the department relied on the highest price of a day. The tribunal was found not to have determined the proper price or the basis for arriving at it, so its approach was not legally tenable and the matter required fresh consideration by the appellate authority. Case-Laws Central Excise Mon, 12 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2127