https://www.taxtmi.com/caselaws?id=83053 Where the buyer funded essential moulds, dies and testing equipment for tape recorders manufactured to its specifications, the seller's declared price was not accepted as the normal assessable value because it did not reflect the full intrinsic value of the goods. Valuation had to be redetermined on the basis of the first wholesale sale price, subject to deductions admissible in law, including trade discount where allowable. The evidence was insufficient to treat the buyer as a dummy manufacturer, so duty remained recoverable from the actual manufacturer and the penalty on the buyer was unsustainable. Provisional assessment also meant the demand was not time-barred. en-us Mon, 31 Jan 1994 00:00:00 +0530 Sat, 09 Jul 2011 12:08:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83053 Where the buyer funded essential moulds, dies and testing equipment for tape recorders manufactured to its specifications, the seller's declared price was not accepted as the normal assessable value because it did not reflect the full intrinsic value of the goods. Valuation had to be redetermined on the basis of the first wholesale sale price, subject to deductions admissible in law, including trade discount where allowable. The evidence was insufficient to treat the buyer as a dummy manufacturer, so duty remained recoverable from the actual manufacturer and the penalty on the buyer was unsustainable. Provisional assessment also meant the demand was not time-barred. Case-Laws Central Excise Mon, 31 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83053