Assessable value under central excise excludes freight and insurance where binding precedent and Board guidance support exclusion.

Freight and insurance are not includible in the assessable value for central excise purposes where binding Supreme Court authority has already rejected the Revenue's position and no distinguishing facts or contrary binding decision are shown. A Board order issued under Section 37B of the Central Excise Act, 1944 also supported the same valuation approach, so the Revenue's challenge did not succeed.

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Issues: Whether freight and insurance were includible in the assessable value of the goods for central excise purposes.

Analysis: The issue was already covered against the Revenue by the Supreme Court decisions relied upon by the Commissioner (Appeals). No distinguishing facts were shown, and no contrary binding decision was cited. The Board's order issued under Section 37B of the Central Excise Act, 1944 also supported the view taken in the impugned order.

Conclusion: Freight and insurance were not includible in the assessable value, and the Revenue's appeal failed.

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