https://www.taxtmi.com/caselaws?id=363968 The MRP-based valuation scheme under section 4A requires duty to be assessed on the declared MRP after statutory abatement, and a lower actual sale price cannot be substituted as the assessable value where the declared MRP is not shown to be or suppressed. Adding the difference between the MRP-based assessable value and the contract price would defeat section 4A and revert valuation to a section 4-style exercise. The extended limitation period is unavailable in the absence of suppression, wilful misstatement, or intent to evade duty. On both valuation and limitation, the demand and consequential penalties could not be sustained. en-us Mon, 16 Jul 2018 00:00:00 +0530 Sat, 21 Jul 2018 09:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363968 The MRP-based valuation scheme under section 4A requires duty to be assessed on the declared MRP after statutory abatement, and a lower actual sale price cannot be substituted as the assessable value where the declared MRP is not shown to be or suppressed. Adding the difference between the MRP-based assessable value and the contract price would defeat section 4A and revert valuation to a section 4-style exercise. The extended limitation period is unavailable in the absence of suppression, wilful misstatement, or intent to evade duty. On both valuation and limitation, the demand and consequential penalties could not be sustained. Case-Laws Central Excise Mon, 16 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363968