https://www.taxtmi.com/caselaws?id=329007 The valuation of processed grey fabrics was held unsustainable because it was based on balance-sheet figures from an unrelated year and on mechanical additions for freight, tax, insurance and commission. The assessee's work sheets with costing particulars were accepted, and no statutory requirement or Board guideline was shown to mandate CAS-4 certification for the period in dispute. As the lower appellate authority had already examined the record in detail and no material was produced to dislodge those findings, the Revenue's challenge to the assessable value failed and the duty demand, along with penalties, could not be sustained. en-us Tue, 24 Nov 2015 00:00:00 +0530 Wed, 19 Oct 2016 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329007 The valuation of processed grey fabrics was held unsustainable because it was based on balance-sheet figures from an unrelated year and on mechanical additions for freight, tax, insurance and commission. The assessee's work sheets with costing particulars were accepted, and no statutory requirement or Board guideline was shown to mandate CAS-4 certification for the period in dispute. As the lower appellate authority had already examined the record in detail and no material was produced to dislodge those findings, the Revenue's challenge to the assessable value failed and the duty demand, along with penalties, could not be sustained. Case-Laws Central Excise Tue, 24 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329007