https://www.taxtmi.com/caselaws?id=436944 Valuation of footwear components cleared for captive consumption under Section 4 of the Central Excise Act, 1944 and Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 was upheld on the basis of wages-linked overheads, because the Department's prime-cost method was found inappropriate where raw material costs fluctuated materially. On the facts, the assessee's adoption of wages as the benchmark for overhead allocation was accepted as producing no under-valuation in the assessable value. The duty demand therefore failed on merits, and the consequential interest and penalty also could not survive. The limitation objection was noted but not separately examined after rejection of the demand. en-us Fri, 21 Apr 2023 00:00:00 +0530 Tue, 25 Apr 2023 08:42:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436944 Valuation of footwear components cleared for captive consumption under Section 4 of the Central Excise Act, 1944 and Rule 6(b)(ii) of the Central Excise (Valuation) Rules, 1975 was upheld on the basis of wages-linked overheads, because the Department's prime-cost method was found inappropriate where raw material costs fluctuated materially. On the facts, the assessee's adoption of wages as the benchmark for overhead allocation was accepted as producing no under-valuation in the assessable value. The duty demand therefore failed on merits, and the consequential interest and penalty also could not survive. The limitation objection was noted but not separately examined after rejection of the demand. Case-Laws Central Excise Fri, 21 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436944