https://www.taxtmi.com/caselaws?id=87539 For valuation under Section 4 of the Central Excise Act, 1944, the assessable value of copper cables and strips could be based on the contract price actually agreed between the parties, where that price was fixed after excluding the duty element on inputs on which Modvat credit had been taken. The Tribunal treated the agreed price less the corresponding Modvat-linked duty as the relevant valuation basis and held that the deduction was justified. On that approach, the Modvat element was allowable as a deduction and the assessable value had to reflect the contractual price between the parties. en-us Wed, 04 Jun 1997 00:00:00 +0530 Tue, 06 Sep 2011 16:37:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87539 For valuation under Section 4 of the Central Excise Act, 1944, the assessable value of copper cables and strips could be based on the contract price actually agreed between the parties, where that price was fixed after excluding the duty element on inputs on which Modvat credit had been taken. The Tribunal treated the agreed price less the corresponding Modvat-linked duty as the relevant valuation basis and held that the deduction was justified. On that approach, the Modvat element was allowable as a deduction and the assessable value had to reflect the contractual price between the parties. Case-Laws Central Excise Wed, 04 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87539