Rebate of excise duty: audit objections on assessable value calculation withdrawn; pending assessments may be finalised. Rebate measures to encourage use of specified oils were distinguished from ordinary effective-rate exemptions because the rebate's purpose and the impracticability of computing precise rebate quantum at clearance precluded deducting the rebate when deriving assessable value; the Comptroller and Auditor General has elected not to pursue earlier objections, allowing finalisation of pending assessments, and the issue has been overtaken by subsequent budgetary notifications removing the cum-duty valuation problem.
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Provisions expressly mentioned in the judgment/order text.
Rebate of excise duty: audit objections on assessable value calculation withdrawn; pending assessments may be finalised.
Rebate measures to encourage use of specified oils were distinguished from ordinary effective-rate exemptions because the rebate's purpose and the impracticability of computing precise rebate quantum at clearance precluded deducting the rebate when deriving assessable value; the Comptroller and Auditor General has elected not to pursue earlier objections, allowing finalisation of pending assessments, and the issue has been overtaken by subsequent budgetary notifications removing the cum-duty valuation problem.
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