Valuation of transmission tower parts excludes bought-out nuts and bolts supplied directly for erection and installation.

The Tribunal held that the cost of bought-out nuts and bolts supplied directly to the site for erection and installation of transmission line towers was not includable in the assessable value of the manufactured tower parts. It applied the same valuation reasoning already accepted in the assessee's own earlier case for a different period, and both sides acknowledged that the controversy was identical. On that basis, the Tribunal followed the earlier decision and granted relief to the assessee by excluding the nuts and bolts from valuation.

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Issues: Whether the cost of bought-out nuts and bolts supplied directly to the site of erection and installation of transmission line towers was includable in the assessable value of the parts of transmission towers manufactured and supplied by the appellant.

Analysis: The issue was identical to one already decided in the appellant's own case for a different period. The Tribunal followed that earlier decision, as both sides accepted that the same controversy had already been adjudicated in favour of the appellant.

Conclusion: The cost of the bought-out nuts and bolts was not required to be included in the assessable value. The impugned order was set aside and the appeal was allowed in favour of the assessee.

Final Conclusion: The dispute on valuation was resolved by applying the Tribunal's earlier decision in the appellant's own case, resulting in relief to the appellant.

Ratio Decidendi: Where an identical valuation issue has already been decided in the assessee's own case for an earlier period, consistency requires following that decision unless distinguished on facts or law.

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