Appellate Tribunal: Assessable value of physicians' samples pre-2002. Circular retrospective effect.

The Appellate Tribunal CESTAT, Mumbai held that for the period before 1-7-2002, the assessable value of physicians' samples should be 115% of the cost of production as per a beneficial circular by the CBEC. This decision aligns with the Supreme Court's view that such circulars have retrospective effect. The case is remanded to the original Bench for additional orders.

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The Appellate Tribunal CESTAT, Mumbai decided that for the period before 1-7-2002, the assessable value of physicians' samples should be based on 115% of the cost of production as per a beneficial circular issued by the CBEC. The decision is in line with the Supreme Court ruling that beneficial circulars have retrospective effect. The case is referred back to the original Bench for further orders.

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