CA Certificate of Stock valuation cannot be ignored without any reliable contra evidence

Kumaka Industries Ltd Vs C.C.E. (CESTAT Ahmedabad)

We find that there is no dispute on the facts that entire stock of product “Ethyl Alcohol” manufactured in one unit was transferred to its sister unit under Invoices on payment of excise duty. The sister unit had taken credit of duty paid and Captively used the said “Ethyl Alcohol” for manufacture of their other final products which were cleared on payment of duty by the said sister unit. It is the Revenue’s case that assessable value was without including the elem

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