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Appellate Tribunal CESTAT rules on valuation of physician samples in Meridian Enterprises case The Appellate Tribunal CESTAT, Ahmedabad, set aside the impugned orders regarding the valuation of physician samples in the case involving Meridian ...
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Appellate Tribunal CESTAT rules on valuation of physician samples in Meridian Enterprises case
The Appellate Tribunal CESTAT, Ahmedabad, set aside the impugned orders regarding the valuation of physician samples in the case involving Meridian Enterprises. The Tribunal held that the valuation should be based on the Circular in effect during the relevant period, not a subsequent Circular applied retrospectively. The matter was remanded to the original adjudicating authority for a fresh decision following the Larger Bench's ratio and the decision in a similar case involving Alkem Laboratories Ltd.
Issues: Valuation of physician samples
In this judgment by the Appellate Tribunal CESTAT, Ahmedabad, the issue revolves around the valuation of physician samples. The Tribunal notes that the issue is identical in the appeals of both the Revenue and Meridian Enterprises. The Larger Bench of the Tribunal had previously decided on this matter in the case of Blue Cross. During the relevant period, a Board's Circular was in effect stating that the valuation of physician samples should be based on the cost of production. This Circular was later replaced by another Circular. The authorities in the case of Meridian Enterprises applied the subsequent Circular retrospectively. However, the Tribunal, in a similar case involving Alkem Laboratories Ltd., held that the valuation should be based on the Circular that was in effect during the relevant time and not the new Circular retrospectively. Therefore, the Tribunal set aside the impugned orders and remanded the matters to the original adjudicating authority for a fresh decision based on the Larger Bench's ratio and the decision in the Alkem Laboratories Ltd. case.
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