Assessable value excludes dealer contributions for after-sales training costs kept separate from manufacturing and sale accounts.

Amounts collected from dealers for after-sales service training, and kept in a separate account with a matching assessee contribution, did not form part of the assessable value of the motor vehicles. The recovery was only a convenient method of sharing training costs for dealers' employees, was not linked to the manufacturing or sale account, was not passed on to customers, and was not treated as manufacturing cost or profit. On that basis, the dealer contribution was excluded from assessable value, and the revision application was allowed with consequential relief.

---

---

Issues: Whether the amount collected from dealers towards after-sales service training, maintained in a separate account and matched by an equal contribution from the assessee, formed part of the assessable value of the motor vehicles.

Analysis: The amount was recovered only as a convenient method for sharing the cost of training dealers' employees. It was kept in a separate account, was not linked to the manufacturing or sale account, was not passed on to customers, and was not treated as part of manufacturing cost or manufacturing profit.

Conclusion: The dealer contribution did not form part of the assessable value, and the revision application was allowed with consequential relief.

---