https://www.taxtmi.com/caselaws?id=786690 Fabrication by cutting, bending and welding of MS pipe to produce a distinct, marketable folding cot constitutes "manufacture" for excise valuation purposes; accordingly duty on manufacture is leviable but limited to the admitted factory-produced cot value and payable with interest. Plywood tops procured from third parties and supplied optionally are treated as bought out, non integral trading goods and their value cannot be added to the assessable value of the cots, so related duty, interest and penalties are set aside. Penalties and extended period invocation are unsustainable where reliance on bought out exclusion or bona fide belief is shown, and penalties against firm and individual are rescinded. en-us Tue, 17 Feb 2026 00:00:00 +0530 Wed, 18 Feb 2026 08:11:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786690 Fabrication by cutting, bending and welding of MS pipe to produce a distinct, marketable folding cot constitutes "manufacture" for excise valuation purposes; accordingly duty on manufacture is leviable but limited to the admitted factory-produced cot value and payable with interest. Plywood tops procured from third parties and supplied optionally are treated as bought out, non integral trading goods and their value cannot be added to the assessable value of the cots, so related duty, interest and penalties are set aside. Penalties and extended period invocation are unsustainable where reliance on bought out exclusion or bona fide belief is shown, and penalties against firm and individual are rescinded. Case-Laws Central Excise Tue, 17 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786690