https://www.taxtmi.com/caselaws?id=53476 For non-sale clearances to a sister concern, assessable value is determined under the Valuation Rules by reference to comparable contemporaneous sales of similar goods to independent buyers. Where independent-buyer sales are at higher prices, lower cost-based transfer values without profit do not represent the proper assessable value, supporting the duty demand. Non-disclosure to Central Excise authorities of invoices showing lower transfer values can amount to suppression of facts for invoking the extended limitation period. Modvat credit availability to the receiving unit does not by itself negate suppression or the relevant intent. The penalty was reduced while the duty demand remained sustained. en-us Fri, 19 Nov 2004 00:00:00 +0530 Wed, 13 Oct 2010 15:18:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53476 For non-sale clearances to a sister concern, assessable value is determined under the Valuation Rules by reference to comparable contemporaneous sales of similar goods to independent buyers. Where independent-buyer sales are at higher prices, lower cost-based transfer values without profit do not represent the proper assessable value, supporting the duty demand. Non-disclosure to Central Excise authorities of invoices showing lower transfer values can amount to suppression of facts for invoking the extended limitation period. Modvat credit availability to the receiving unit does not by itself negate suppression or the relevant intent. The penalty was reduced while the duty demand remained sustained. Case-Laws Central Excise Fri, 19 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53476