Invoice value under depot valuation rules governs assessable value where Section 4 is satisfied and prior ruling applies

Valuation of goods removed to depots was governed by Rule 173C(11), which allowed assessment on invoice value so long as the value satisfied Section 4. No finding showed that the invoice value failed that requirement, and the dispute concerned the correct valuation basis rather than undervaluation. The matter was treated as identical to an earlier decision between the same parties, with no sufficient factual distinction to depart from that view. On that basis, invoice value was accepted as the proper assessable value and the demand based on factory gate sale price was not sustained.

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Issues: Whether the assessable value for goods removed to depots was to be taken at the factory gate sale price or at the invoice value assessed under Rule 173C(11), and whether the earlier decision between the same parties governed the controversy.

Analysis: The valuation dispute turned on the operation of Rule 173C(11), which permitted assessment on the basis of invoice value so long as that value satisfied Section 4. The record did not show any finding that the invoice value failed to meet the requirements of Section 4, and the show cause notice raised a legal question on the applicable basis of valuation rather than a case of undervaluation. The matter was also found to be identical to an earlier decision between the same parties, and no sufficient factual distinction was accepted to depart from that view.

Conclusion: The invoice value under Rule 173C(11) was accepted as the proper basis of assessment, and the demand founded on adoption of factory gate sale price was not sustained.

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