9911796707
TMI Blog2003 (7) TMI 517X X X X Extracts X X X X X X X X Extracts X X X X ..... Gowri Shankar, Member (T)]. The question for consideration in this appeal is the valuation for the purpose of assessment of the molasses that arose in the appellant s factory in the manufacture of sugar and was captively consumed by it in the manufacture of alcohol during June, 1994. The appellant had taken the assessable value of the molasses at Rs. 850/- per ton. This value, it is claimed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... incorrect because this was a stray transaction. The price of Rs. 850/- fixed by the Committee of the Government of Maharashtra or alternatively Rs. 1000/- determined by the Commissioner in his instruction 26/1995 has to be accepted. 4. The minutes of the meeting of this committee of the Government of Maharashtra which is purported to have fixed the price have not been produced. It is therefore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en to the appellant to produce evidence of other transaction for lower price. We are therefore of the view that the price at which the appellant bought molasses from anyone else in June, 1994 should form the basis. Since, there are three such transaction it is reasonable to conclude that it is the lowest of these prices that should apply. This is of Rs. 2090.40 per ton at which the appellant bough ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
