https://www.taxtmi.com/caselaws?id=77984 Where excisable goods remained insured in the seller's name during transit and risk of loss stayed with the seller until delivery, sale was treated as completed at the buyer's premises and that location was taken as the place of removal for valuation; the main duty demand was sustained. The difference between transit insurance collected and actual insurance paid was not includible in assessable value merely because collections were uniform, and that addition was deleted. Penalty under Section 11AC was held to be subject to a statutory maximum, not an automatic full penalty, so the penalty was reduced to Rs. 10 lakhs. en-us Tue, 24 Aug 1999 00:00:00 +0530 Sat, 20 Dec 2025 00:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77984 Where excisable goods remained insured in the seller's name during transit and risk of loss stayed with the seller until delivery, sale was treated as completed at the buyer's premises and that location was taken as the place of removal for valuation; the main duty demand was sustained. The difference between transit insurance collected and actual insurance paid was not includible in assessable value merely because collections were uniform, and that addition was deleted. Penalty under Section 11AC was held to be subject to a statutory maximum, not an automatic full penalty, so the penalty was reduced to Rs. 10 lakhs. Case-Laws Central Excise Tue, 24 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77984