https://www.taxtmi.com/caselaws?id=51537 Assessable value cannot be enhanced merely by relying on balance sheet figures where the assessee explains the difference as resale transactions and produces supporting purchase and sale invoices. The recorded quantities showed trading clearances of goods bought from outside and sold as such, and the Department failed to produce corroborative evidence that the balance sheet reflected amounts other than resale value. In the absence of such material, the basis for treating the balance sheet figures as an independent measure of assessable value was not established, and the Department's approach was rejected. en-us Tue, 06 Aug 2002 00:00:00 +0530 Sat, 25 Sep 2010 12:44:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51537 Assessable value cannot be enhanced merely by relying on balance sheet figures where the assessee explains the difference as resale transactions and produces supporting purchase and sale invoices. The recorded quantities showed trading clearances of goods bought from outside and sold as such, and the Department failed to produce corroborative evidence that the balance sheet reflected amounts other than resale value. In the absence of such material, the basis for treating the balance sheet figures as an independent measure of assessable value was not established, and the Department's approach was rejected. Case-Laws Central Excise Tue, 06 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51537