Assessable value of sleepers includes insert cost where prior identical-facts ruling was followed for valuation.

The cost of inserts used in sleepers is includible in the assessable value under section 4 because an earlier decision on identical facts had already treated inserts as part of that value. Applying the same reasoning to similar factual circumstances, the Tribunal followed the existing view and accepted the department's position. The operative effect is that insert cost forms part of the assessable value of sleepers for valuation purposes.

---

---

Issues: Whether the cost of inserts used in sleepers is includible in the assessable value under section 4 of the Act.

Analysis: The Tribunal noted that an earlier decision on identical facts had already held that the cost of inserts forms part of the assessable value of sleepers. Since the dispute involved the same issue and similar factual circumstances, that view was followed.

Conclusion: The cost of inserts is includible in the assessable value of sleepers. The appeal by the department succeeded.

---