https://www.taxtmi.com/caselaws?id=87465 Waiver of pre-deposit under Section 35F of the Central Excise Act was considered in light of a prima facie objection that the assessable value had been wrongly quantified by not excluding the duty element embedded in the cash discount component under Section 4(4)(d)(ii). The respondent did not dispute that the statutory adjustment under Section 4(4)(d)(ii) was relevant for arriving at assessable value. On that basis, part of the pre-deposit was waived, including the penalty amount, and the appellant was permitted to discharge the balance by using valid Modvat credit or by cash deposit within the stipulated time. en-us Wed, 26 Nov 1997 00:00:00 +0530 Tue, 06 Sep 2011 12:02:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87465 Waiver of pre-deposit under Section 35F of the Central Excise Act was considered in light of a prima facie objection that the assessable value had been wrongly quantified by not excluding the duty element embedded in the cash discount component under Section 4(4)(d)(ii). The respondent did not dispute that the statutory adjustment under Section 4(4)(d)(ii) was relevant for arriving at assessable value. On that basis, part of the pre-deposit was waived, including the penalty amount, and the appellant was permitted to discharge the balance by using valid Modvat credit or by cash deposit within the stipulated time. Case-Laws Central Excise Wed, 26 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87465