https://www.taxtmi.com/caselaws?id=355496 Where a job worker retains scrap and the contract shows reduced job charges because of that retention, the scrap value forms part of the conversion element and is includible in assessable value; the Tribunal rejected the attempt to distinguish pre- and post-2000 valuation rules because the assessable value was still depressed by the scrap benefit. A limitation plea based on bona fide belief also failed, as the favourable order relied on related a different group company with a separate registration and did not justify protection for the appellant. The demand and penalties were therefore sustained against the assessee. en-us Mon, 05 Feb 2018 00:00:00 +0530 Sat, 02 Mar 2019 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355496 Where a job worker retains scrap and the contract shows reduced job charges because of that retention, the scrap value forms part of the conversion element and is includible in assessable value; the Tribunal rejected the attempt to distinguish pre- and post-2000 valuation rules because the assessable value was still depressed by the scrap benefit. A limitation plea based on bona fide belief also failed, as the favourable order relied on related a different group company with a separate registration and did not justify protection for the appellant. The demand and penalties were therefore sustained against the assessee. Case-Laws Central Excise Mon, 05 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355496