Assessable value excludes rebate on rice bran oil where a binding circular says it is not to be added.

Where a binding Board circular clarified that rebate on rice bran oil was not intended to be added to assessable value, the Tribunal held that the rebate could not be included for duty valuation. On that basis, the consequential demand for differential duty could not be sustained. The Tribunal followed its consistent earlier view on the same issue and set aside the impugned order, allowing the appeal.

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Issues: Whether the rebate on rice bran oil was liable to be included in the assessable value for redetermination of value and duty, and consequential demand of differential duty.

Analysis: The Tribunal followed its consistent view that the statutory authority was required to act in accordance with the Board's circular dated 9-9-1987, which stated that there was no intention to add the rebate amount to the assessable value. The earlier Tribunal view in a similar matter was also relied upon.

Conclusion: The rebate amount was not includible in the assessable value, and the demand of differential duty could not be sustained.

Final Conclusion: The impugned order was set aside and the appeal was allowed.

Ratio Decidendi: Where a binding departmental circular clarifies that a rebate is not to be added to assessable value, the rebate cannot be included for duty valuation and differential duty cannot be demanded on that basis.

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