https://www.taxtmi.com/caselaws?id=52025 Valuation of captively consumed goods under Rule 6(b)(ii) must be based on the manufacturing unit's own cost and overheads, not on consolidated company-wide balance sheet figures that include other units. The settled valuation principle was not properly examined below, so the assessable value could not be sustained and the matter required fresh adjudication on the unit-specific cost basis. The cost-of-production circular on captively consumed goods also had to be considered in the de novo proceedings if applicable. The order was set aside and the dispute remanded, with liberty to raise limitation and revenue-neutrality contentions before the Commissioner. en-us Mon, 07 Jul 2003 00:00:00 +0530 Thu, 30 Sep 2010 11:33:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52025 Valuation of captively consumed goods under Rule 6(b)(ii) must be based on the manufacturing unit's own cost and overheads, not on consolidated company-wide balance sheet figures that include other units. The settled valuation principle was not properly examined below, so the assessable value could not be sustained and the matter required fresh adjudication on the unit-specific cost basis. The cost-of-production circular on captively consumed goods also had to be considered in the de novo proceedings if applicable. The order was set aside and the dispute remanded, with liberty to raise limitation and revenue-neutrality contentions before the Commissioner. Case-Laws Central Excise Mon, 07 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52025