https://www.taxtmi.com/caselaws?id=93309 Where vehicles are sold in public auction to the highest bidder at the bid price, trade discount cannot be presumed or deducted in computing assessable value unless it is actually available in the transaction. On the facts, there was no scope for any trade discount in the auction sale, so the lower appellate authority erred in allowing the deduction. The Revenue's challenge succeeded on this issue, and the assessable value had to be determined without reducing the auction price by an assumed trade discount. en-us Tue, 29 Feb 2000 00:00:00 +0530 Wed, 09 Nov 2011 17:29:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93309 Where vehicles are sold in public auction to the highest bidder at the bid price, trade discount cannot be presumed or deducted in computing assessable value unless it is actually available in the transaction. On the facts, there was no scope for any trade discount in the auction sale, so the lower appellate authority erred in allowing the deduction. The Revenue's challenge succeeded on this issue, and the assessable value had to be determined without reducing the auction price by an assumed trade discount. Case-Laws Central Excise Tue, 29 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93309