https://www.taxtmi.com/caselaws?id=756556 The CESTAT Allahabad set aside demands for inclusion of third party inspection charges in transaction value under Section 4, ruling that such charges cannot be included without meeting the rigorous requirements of the charging section. The tribunal relied on SC precedents in Purolator India Ltd. and Acer India Ltd. cases establishing that transaction value amendments did not change basic valuation principles. Additionally, demands based solely on a Director's statement without corroborative evidence were rejected, citing Allahabad HC's ruling in Continental Cement Company requiring further evidence for clandestine sale allegations. The penalty imposed on the Director was also set aside, and all appeals were allowed. en-us Thu, 01 Aug 2024 00:00:00 +0530 Mon, 05 Aug 2024 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756556 The CESTAT Allahabad set aside demands for inclusion of third party inspection charges in transaction value under Section 4, ruling that such charges cannot be included without meeting the rigorous requirements of the charging section. The tribunal relied on SC precedents in Purolator India Ltd. and Acer India Ltd. cases establishing that transaction value amendments did not change basic valuation principles. Additionally, demands based solely on a Director's statement without corroborative evidence were rejected, citing Allahabad HC's ruling in Continental Cement Company requiring further evidence for clandestine sale allegations. The penalty imposed on the Director was also set aside, and all appeals were allowed. Case-Laws Central Excise Thu, 01 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756556