https://www.taxtmi.com/caselaws?id=428954 Forfeited earnest money deposit and deductions from security deposit in an auction sale of scrap were held not to form part of transaction value under excise valuation law because they were retained only on default in lifting the goods and were not consideration for the sale. Amounts recovered merely on breach of auction conditions are not includible as sale price or payable consideration. As the duty demand was unsustainable, the consequential interest and penalty also could not survive, and the demand was set aside in favour of the assessee. en-us Mon, 10 Oct 2022 00:00:00 +0530 Sat, 15 Oct 2022 09:09:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428954 Forfeited earnest money deposit and deductions from security deposit in an auction sale of scrap were held not to form part of transaction value under excise valuation law because they were retained only on default in lifting the goods and were not consideration for the sale. Amounts recovered merely on breach of auction conditions are not includible as sale price or payable consideration. As the duty demand was unsustainable, the consequential interest and penalty also could not survive, and the demand was set aside in favour of the assessee. Case-Laws Central Excise Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428954