https://www.taxtmi.com/caselaws?id=116287 A commercial discount allowed to a distinct class of bulk buyer and tool-maker was treated as deductible for central excise valuation under section 4 because it was supported by market practice, comparable discounts, and evidence of an arm's-length transaction, with no proof of flow back. The buyer's use of the goods as original equipment and the revenue-neutral effect through credit strengthened the valuation claim. The longer period of limitation was not available because there was no material showing suppression of facts, and the demand, penalties, and interest therefore could not be sustained. The appeal succeeded with consequential relief to the assessee. en-us Mon, 09 May 2005 00:00:00 +0530 Mon, 11 Jun 2012 11:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116287 A commercial discount allowed to a distinct class of bulk buyer and tool-maker was treated as deductible for central excise valuation under section 4 because it was supported by market practice, comparable discounts, and evidence of an arm's-length transaction, with no proof of flow back. The buyer's use of the goods as original equipment and the revenue-neutral effect through credit strengthened the valuation claim. The longer period of limitation was not available because there was no material showing suppression of facts, and the demand, penalties, and interest therefore could not be sustained. The appeal succeeded with consequential relief to the assessee. Case-Laws Central Excise Mon, 09 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116287