https://www.taxtmi.com/caselaws?id=431336 SC upheld Revenue's demand for excise duty on goods sold to both related and independent parties, confirming valuation methodology under Section 4(1)(b) of Central Excise Act. Court emphasized Revenue must follow its own CBEC Circular dated 01.07.2002 to maintain consistency and predictability in taxation law. Extended limitation period was justified due to Assessee's suppression of facts regarding sales transactions. However, SC set aside interest and penalty components, directing their reduction from total recoverable amount, noting Revenue's own uncertainty regarding correct valuation method made additional liability inappropriate. en-us Mon, 05 Dec 2022 00:00:00 +0530 Thu, 16 Apr 2026 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431336 SC upheld Revenue's demand for excise duty on goods sold to both related and independent parties, confirming valuation methodology under Section 4(1)(b) of Central Excise Act. Court emphasized Revenue must follow its own CBEC Circular dated 01.07.2002 to maintain consistency and predictability in taxation law. Extended limitation period was justified due to Assessee's suppression of facts regarding sales transactions. However, SC set aside interest and penalty components, directing their reduction from total recoverable amount, noting Revenue's own uncertainty regarding correct valuation method made additional liability inappropriate. Case-Laws Central Excise Mon, 05 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431336