https://www.taxtmi.com/caselaws?id=468257 CAS-4 is an accepted costing standard for excise valuation, and where the assessee's costing statement is materially defective, a differential duty demand based on the revised assessable value can be sustained. However, penalty under Rule 25 is not automatic merely because a different valuation basis is adopted; absent material showing intent to evade duty or other culpable conduct, penal consequences are not warranted. The duty demand was upheld, while the penalty was set aside. en-us Wed, 16 Nov 2016 00:00:00 +0530 Fri, 24 Apr 2026 17:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468257 CAS-4 is an accepted costing standard for excise valuation, and where the assessee's costing statement is materially defective, a differential duty demand based on the revised assessable value can be sustained. However, penalty under Rule 25 is not automatic merely because a different valuation basis is adopted; absent material showing intent to evade duty or other culpable conduct, penal consequences are not warranted. The duty demand was upheld, while the penalty was set aside. Case-Laws Central Excise Wed, 16 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468257