https://www.taxtmi.com/caselaws?id=49893 Where contemporaneous wholesale sale prices of the assessee's own clearances were available, captively consumed excisable goods were required to be valued on that comparable-sale basis, and resort to the residuary valuation rule was held unwarranted. The later demand and revised valuation were also found unsustainable because earlier jurisdictional orders had dropped the provisional revision and related demands, with no valid basis to reopen the matter through a higher authority. Penalties under the excise penalty provisions and Rule 209A were set aside because they could not operate retrospectively and could not survive once the substantive demand failed. en-us Fri, 08 Sep 2000 00:00:00 +0530 Wed, 18 Aug 2010 12:21:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49893 Where contemporaneous wholesale sale prices of the assessee's own clearances were available, captively consumed excisable goods were required to be valued on that comparable-sale basis, and resort to the residuary valuation rule was held unwarranted. The later demand and revised valuation were also found unsustainable because earlier jurisdictional orders had dropped the provisional revision and related demands, with no valid basis to reopen the matter through a higher authority. Penalties under the excise penalty provisions and Rule 209A were set aside because they could not operate retrospectively and could not survive once the substantive demand failed. Case-Laws Central Excise Fri, 08 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49893