https://www.taxtmi.com/caselaws?id=53128 In excise valuation, the value of an integral component received free of cost under Rule 57F(4) challans was held includible in the assessable value of the final product, because its free supply and absence of Modvat credit did not exclude its intrinsic value. On limitation, revenue neutrality was assessed by reference to credit available to the assessee itself, not to the downstream buyer; as no credit was available to the assessee on the free issue, non-disclosure of the exclusion amounted to suppression with intent to evade duty. The duty demand was upheld and the penalty was reduced. en-us Wed, 11 Aug 2004 00:00:00 +0530 Mon, 11 Oct 2010 10:36:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53128 In excise valuation, the value of an integral component received free of cost under Rule 57F(4) challans was held includible in the assessable value of the final product, because its free supply and absence of Modvat credit did not exclude its intrinsic value. On limitation, revenue neutrality was assessed by reference to credit available to the assessee itself, not to the downstream buyer; as no credit was available to the assessee on the free issue, non-disclosure of the exclusion amounted to suppression with intent to evade duty. The duty demand was upheld and the penalty was reduced. Case-Laws Central Excise Wed, 11 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53128