https://www.taxtmi.com/caselaws?id=52882 Valuation of inputs transferred to a sister unit was assessed under the Board circular governing such removals, where no independent sale took place and the assessee had reversed the Cenvat credit, issued invoices and filed returns. The circular permitted reasonable valuation under the residuary framework, and specifically supported adoption of the invoice value on which credit was originally taken. Because the assessee followed that prescribed method and it did not conflict with any statutory provision, the valuation adopted could not be rejected. The demand of central excise duty on that basis was therefore unsustainable, and the appeal was allowed. en-us Fri, 07 May 2004 00:00:00 +0530 Fri, 08 Oct 2010 12:06:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52882 Valuation of inputs transferred to a sister unit was assessed under the Board circular governing such removals, where no independent sale took place and the assessee had reversed the Cenvat credit, issued invoices and filed returns. The circular permitted reasonable valuation under the residuary framework, and specifically supported adoption of the invoice value on which credit was originally taken. Because the assessee followed that prescribed method and it did not conflict with any statutory provision, the valuation adopted could not be rejected. The demand of central excise duty on that basis was therefore unsustainable, and the appeal was allowed. Case-Laws Central Excise Fri, 07 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52882