https://www.taxtmi.com/caselaws?id=54007 Valuation of excisable goods manufactured by a job worker remains governed by the settled factory-gate principle: the job worker's premises are treated as the deemed factory gate, and assessable value is determined there rather than by reference to the principal manufacturer's later depot sale price. The transaction value concept did not alter that position, and the valuation rules apply only in their prescribed circumstances. Where the dispute rests solely on substituting the principal's depot price, without any allegation of undervaluation by omission of cost elements, that substitution is impermissible and the related demand, penalty and interest cannot be sustained. en-us Fri, 04 Feb 2005 00:00:00 +0530 Sat, 16 Oct 2010 13:16:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54007 Valuation of excisable goods manufactured by a job worker remains governed by the settled factory-gate principle: the job worker's premises are treated as the deemed factory gate, and assessable value is determined there rather than by reference to the principal manufacturer's later depot sale price. The transaction value concept did not alter that position, and the valuation rules apply only in their prescribed circumstances. Where the dispute rests solely on substituting the principal's depot price, without any allegation of undervaluation by omission of cost elements, that substitution is impermissible and the related demand, penalty and interest cannot be sustained. Case-Laws Central Excise Fri, 04 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54007