https://www.taxtmi.com/caselaws?id=47895 For valuation of captively consumed excisable goods, the normal profit element is ordinarily relevant, even where the assessee has incurred losses. A lower forum must apply the binding larger Bench valuation principle and cannot sustain a contrary approach without independently examining the merits. The Tribunal had failed to consider the larger Bench view and had not properly addressed the valuation basis, so the matter was required to be reconsidered in accordance with law. The order was set aside and the issue remitted for fresh determination, with all contentions kept open. en-us Wed, 15 Nov 2006 00:00:00 +0530 Sat, 19 Apr 2014 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47895 For valuation of captively consumed excisable goods, the normal profit element is ordinarily relevant, even where the assessee has incurred losses. A lower forum must apply the binding larger Bench valuation principle and cannot sustain a contrary approach without independently examining the merits. The Tribunal had failed to consider the larger Bench view and had not properly addressed the valuation basis, so the matter was required to be reconsidered in accordance with law. The order was set aside and the issue remitted for fresh determination, with all contentions kept open. Case-Laws Central Excise Wed, 15 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47895