https://www.taxtmi.com/caselaws?id=325160 Captive-consumption valuation of an intermediate excisable product was upheld under Rule 8 of the Central Excise Valuation Rules, 2000 where the assessee used CAS-4 costing and the department produced no evidence of unaccounted cost or independent cost verification; a notional deduction from the final product's sale value was rejected as lacking legal basis. Exemption under Notification No. 67/95-CE was also allowed for captively used goods treated as capital goods falling under Chapter 84, because the proviso relied on by the department was held to apply to inputs, not such capital goods, and Rule 6(4) of the Cenvat Credit Rules was found irrelevant. en-us Wed, 16 Dec 2015 00:00:00 +0530 Thu, 20 Oct 2016 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325160 Captive-consumption valuation of an intermediate excisable product was upheld under Rule 8 of the Central Excise Valuation Rules, 2000 where the assessee used CAS-4 costing and the department produced no evidence of unaccounted cost or independent cost verification; a notional deduction from the final product's sale value was rejected as lacking legal basis. Exemption under Notification No. 67/95-CE was also allowed for captively used goods treated as capital goods falling under Chapter 84, because the proviso relied on by the department was held to apply to inputs, not such capital goods, and Rule 6(4) of the Cenvat Credit Rules was found irrelevant. Case-Laws Central Excise Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325160