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2017 (2) TMI 310 - AT - Central ExciseRejection of Chartered Certificate - natural justice - Valuation - whether the depreciation and financial expenses consisting of various percentages of the cost of production as per the profit and loss accounts were required to be added to the assessable value? Held that: - If a Chartered Accountant s certificate needs to be rejected then there has to be some concrete basis for rejection of the same. Similarly, if any amount needs to be included in assessable value that revenue has to be some concrete basis for quantification of such amount. The same also needs to be communicated to the appellant to enable them to defend their case - In the instant case, revenue has failed to do so. In the absence of any reasonable ground for rejection of the Chartered Accountant's certificate, the same cannot be rejected - demand set aside - appeal allowed - decided in favor of appellant.
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