https://www.taxtmi.com/caselaws?id=85522 The cost of durable, returnable gunny bags is excluded from the assessable value of glass bottles where the packing arrangement creates a contractual obligation to return the bags to the supplier. Mere physical possibility of return is insufficient; returnability must arise from the agreement itself. As the contract schedule provided that the bottles would be supplied in gunny bags and the bags would be returned after emptying, the exclusion applied and the Revenue's challenge failed, leaving the assessee's valuation treatment undisturbed. en-us Mon, 15 Jul 1996 00:00:00 +0530 Fri, 05 Aug 2011 16:01:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85522 The cost of durable, returnable gunny bags is excluded from the assessable value of glass bottles where the packing arrangement creates a contractual obligation to return the bags to the supplier. Mere physical possibility of return is insufficient; returnability must arise from the agreement itself. As the contract schedule provided that the bottles would be supplied in gunny bags and the bags would be returned after emptying, the exclusion applied and the Revenue's challenge failed, leaving the assessee's valuation treatment undisturbed. Case-Laws Central Excise Mon, 15 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85522