https://www.taxtmi.com/caselaws?id=109695 For excise valuation under Section 4, the genuine lower sale price actually realised from independent buyers is the ordinary wholesale price for assessment where that price is undisputed. The failure to file and obtain approval of a revised price list under Rule 173-C is procedural and, by itself, does not justify demanding differential duty on a higher approved price that was not actually realised. Assessment must therefore proceed on the genuine transaction price shown in the invoices, and the higher price list cannot be used to sustain the demand. en-us Thu, 26 Jun 1997 00:00:00 +0530 Wed, 11 Apr 2012 14:31:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109695 For excise valuation under Section 4, the genuine lower sale price actually realised from independent buyers is the ordinary wholesale price for assessment where that price is undisputed. The failure to file and obtain approval of a revised price list under Rule 173-C is procedural and, by itself, does not justify demanding differential duty on a higher approved price that was not actually realised. Assessment must therefore proceed on the genuine transaction price shown in the invoices, and the higher price list cannot be used to sustain the demand. Case-Laws Central Excise Thu, 26 Jun 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109695