2014 (10) TMI 48 - AT - Central Excise

Valuation of goods - whether the value of scrap arising out of manufacture shall fall from part of assessable value - Held that - Certainly if the scrap has economic value that cannot be excluded from the assessable value of the job worked goods - Since the matter has involved an interpretation of law, we waive the penalty imposed on the appellant confirming the duty element - Decided partly in favour of assessee.

Summary

The Appellate Tribunal CESTAT NEW DELHI dismissed the appeal regarding the inclusion of scrap value in the assessable value of manufactured goods. Penalty was waived due to an interpretation of law. The appeal was partly allowed.