https://www.taxtmi.com/caselaws?id=798153 Transaction value under a buyback arrangement cannot serve as assessable value where batteries are supplied below manufacturing cost, co-packed into torches sold exclusively back to the supplier, and the price is neither arm's length nor the sole consideration; cost-based valuation was therefore sustained. Extended limitation requires suppression or an equivalent statutory ground. Registration, prescribed returns and Revenue knowledge of the agreements precluded extended limitation, rendering that demand time-barred, although demands within the normal limitation period and interest remained enforceable. Penalties based on suppression failed, and the CENVAT-credit penalty provision was inapplicable because no wrongful credit availment or utilisation was alleged or invoked. en-us Tue, 01 Sep 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798153 Transaction value under a buyback arrangement cannot serve as assessable value where batteries are supplied below manufacturing cost, co-packed into torches sold exclusively back to the supplier, and the price is neither arm's length nor the sole consideration; cost-based valuation was therefore sustained. Extended limitation requires suppression or an equivalent statutory ground. Registration, prescribed returns and Revenue knowledge of the agreements precluded extended limitation, rendering that demand time-barred, although demands within the normal limitation period and interest remained enforceable. Penalties based on suppression failed, and the CENVAT-credit penalty provision was inapplicable because no wrongful credit availment or utilisation was alleged or invoked. Case-Laws Central Excise Tue, 01 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798153