https://www.taxtmi.com/caselaws?id=52209 Captively consumed yarn was valued by reference to the ex-factory sale price of similar yarn because the yarn was partly sold at the factory gate and partly used internally. The valuation rules were treated as residual and inapplicable where value could be determined under the general excise valuation provision; Rule 6(b) was also held inapplicable because it applies to goods not sold, unlike a partly sold product. The factory-gate price, including post-spindle stage expenses, was therefore sustained as the valuation basis. The equal penalty was found excessive on the facts and was substantially reduced, leaving the duty demand intact but granting limited relief on penalty. en-us Wed, 11 Jun 2003 00:00:00 +0530 Mon, 04 Oct 2010 11:57:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52209 Captively consumed yarn was valued by reference to the ex-factory sale price of similar yarn because the yarn was partly sold at the factory gate and partly used internally. The valuation rules were treated as residual and inapplicable where value could be determined under the general excise valuation provision; Rule 6(b) was also held inapplicable because it applies to goods not sold, unlike a partly sold product. The factory-gate price, including post-spindle stage expenses, was therefore sustained as the valuation basis. The equal penalty was found excessive on the facts and was substantially reduced, leaving the duty demand intact but granting limited relief on penalty. Case-Laws Central Excise Wed, 11 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52209