https://www.taxtmi.com/caselaws?id=53476 For clearances not sold in the open market, assessable value under the valuation rules may be determined by reference to comparable sales of similar goods to independent buyers, especially where sister-concern transfers are valued at cost without adding profit. The article also notes that non-production of lower-value invoices before excise authorities may amount to suppression of facts, and the availability of Modvat credit to the receiving unit does not by itself negate the basis for invoking the extended period of limitation. The discussion further reflects that duty valuation can be tested against contemporaneous market sales, with penalty exposure and limitation issues turning on disclosure of relevant documents. 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 clearances not sold in the open market, assessable value under the valuation rules may be determined by reference to comparable sales of similar goods to independent buyers, especially where sister-concern transfers are valued at cost without adding profit. The article also notes that non-production of lower-value invoices before excise authorities may amount to suppression of facts, and the availability of Modvat credit to the receiving unit does not by itself negate the basis for invoking the extended period of limitation. The discussion further reflects that duty valuation can be tested against contemporaneous market sales, with penalty exposure and limitation issues turning on disclosure of relevant documents. Case-Laws Central Excise Fri, 19 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53476