https://www.taxtmi.com/caselaws?id=422984 A genuine factory gate price under section 4(1)(a) of the Central Excise Act governed valuation because the records showed sales at the factory gate to a wide range of buyers over several years and the Revenue produced no contrary documentary proof. That price was not confined to a special or isolated class of purchasers, as the ledgers reflected sales to dealers, actual user companies and public sector undertakings. Accordingly, resort to depot prices and the valuation demand based on them could not be sustained; the penalty also fell. The extended period of limitation was unavailable because price declarations had been filed and there was no fraud, collusion, wilful misstatement or suppression with intent to evade duty. en-us Mon, 09 May 2022 00:00:00 +0530 Fri, 27 May 2022 08:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422984 A genuine factory gate price under section 4(1)(a) of the Central Excise Act governed valuation because the records showed sales at the factory gate to a wide range of buyers over several years and the Revenue produced no contrary documentary proof. That price was not confined to a special or isolated class of purchasers, as the ledgers reflected sales to dealers, actual user companies and public sector undertakings. Accordingly, resort to depot prices and the valuation demand based on them could not be sustained; the penalty also fell. The extended period of limitation was unavailable because price declarations had been filed and there was no fraud, collusion, wilful misstatement or suppression with intent to evade duty. Case-Laws Central Excise Mon, 09 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422984