https://www.taxtmi.com/caselaws?id=349178 The Tribunal upheld the duty demand but set aside the penalty in a case involving the valuation of scrap in job work manufacturing for duty calculation. The appellant, a cotton yarn manufacturer, returned scrap to the principal deducting its value from raw material cost. The Tribunal, following the Ujagar Prints case, disallowed the deduction, emphasizing duty payment on raw materials without subtracting scrap value. The penalty was deemed unwarranted as the issue stemmed from a legal interpretation dispute, resulting in the penalty being revoked while maintaining the duty demand and interest. en-us Wed, 26 Jul 2017 00:00:00 +0530 Mon, 09 Oct 2017 11:23:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349178 The Tribunal upheld the duty demand but set aside the penalty in a case involving the valuation of scrap in job work manufacturing for duty calculation. The appellant, a cotton yarn manufacturer, returned scrap to the principal deducting its value from raw material cost. The Tribunal, following the Ujagar Prints case, disallowed the deduction, emphasizing duty payment on raw materials without subtracting scrap value. The penalty was deemed unwarranted as the issue stemmed from a legal interpretation dispute, resulting in the penalty being revoked while maintaining the duty demand and interest. Case-Laws Central Excise Wed, 26 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349178