High Court directs excise reassessment on fabric value, orders refund

The High Court of Gujarat at Ahmedabad directed the excise authorities to reassess the assessable value of fabrics processed by the petitioners, excluding trader's profit, in accordance with a Supreme Court decision. The court also ordered the authorities to refund the excess duty paid by the petitioners.

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The petitioners are in the business of processing fabrics and seek reassessment of assessable value by excise authorities, excluding trader's profit. The High Court directs authorities to reassess value in line with Supreme Court decision and grant refund for excess duty paid. [Case: G.T. Nanavati and J.U. Mehta, JJ., 1990 (5) TMI 46 - High Court of Gujarat at Ahmedabad]

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