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The Tribunal held that the extended period of limitation could not be invoked because the assessee's sales were made to a Government undertaking under proper invoices and through banking channels, with no evidence of clearance without invoices or any material showing suppression or misstatement to evade duty. It also upheld deductions from assessable value for pro rata recovery, cash discount, trading turnover, freight and sales tax, finding that the contractual terms and supporting documents justified their allowance. Excise duty was therefore confined to the actual transaction value received after eligible deductions, and the demand, interest and penalty were set aside.
The Tribunal held that the extended period of limitation could not be invoked because the assessee's sales were made to a Government undertaking under proper invoices and through banking channels, with no evidence of clearance without invoices or any material showing suppression or misstatement to evade duty. It also upheld deductions from assessable value for pro rata recovery, cash discount, trading turnover, freight and sales tax, finding that the contractual terms and supporting documents justified their allowance. Excise duty was therefore confined to the actual transaction value received after eligible deductions, and the demand, interest and penalty were set aside.
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