https://www.taxtmi.com/caselaws?id=90355 Refund under Rule 97(1)(vi) and Rule 173L(3)(v) was denied because the repurchase price of returned cigarettes did not establish their statutory "value" at the time of return. The expression "value" was treated as realistic market value, not an arbitrary price fixed for business reasons. Although the goods were taken back from dealers at the original cum-duty price, they had deteriorated in storage and some were unsaleable, so the repurchase price did not reflect their actual worth. The claimant failed to prove that the returned goods were worth at least the duty originally paid, and the refund claims were held inadmissible. en-us Fri, 31 Jan 1997 00:00:00 +0530 Wed, 05 Oct 2011 17:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90355 Refund under Rule 97(1)(vi) and Rule 173L(3)(v) was denied because the repurchase price of returned cigarettes did not establish their statutory "value" at the time of return. The expression "value" was treated as realistic market value, not an arbitrary price fixed for business reasons. Although the goods were taken back from dealers at the original cum-duty price, they had deteriorated in storage and some were unsaleable, so the repurchase price did not reflect their actual worth. The claimant failed to prove that the returned goods were worth at least the duty originally paid, and the refund claims were held inadmissible. Case-Laws Central Excise Fri, 31 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90355