https://www.taxtmi.com/caselaws?id=84580 Where an ascertainable factory-gate price existed for identical goods, that price governed valuation and a higher depot price could not be substituted merely because depot sales fetched more. For goods not sold at the factory gate, assessable value could be based on depot price after admissible deductions, but the assessee had to prove actual deductions such as transport charges. Suppression of the true selling arrangement and wilful misstatement attracted the extended limitation period, so the demand was not time-barred. Penalty was warranted for the suppression, though the amount was reduced as excessive. en-us Mon, 30 Oct 1995 00:00:00 +0530 Fri, 22 Jul 2011 18:24:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84580 Where an ascertainable factory-gate price existed for identical goods, that price governed valuation and a higher depot price could not be substituted merely because depot sales fetched more. For goods not sold at the factory gate, assessable value could be based on depot price after admissible deductions, but the assessee had to prove actual deductions such as transport charges. Suppression of the true selling arrangement and wilful misstatement attracted the extended limitation period, so the demand was not time-barred. Penalty was warranted for the suppression, though the amount was reduced as excessive. Case-Laws Central Excise Mon, 30 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84580