https://www.taxtmi.com/caselaws?id=119137 Where goods are sold under a written principal-to-principal contract and the price is departmentally accepted, that contract price remains the normal assessable value for central excise purposes. In the absence of proof that the buyer was a related person, that any extra consideration flowed back to the manufacturer, or that the price was manipulated, a higher notional value based on earlier offers for small quantities cannot displace the genuine wholesale price. The duty demand founded on the notional valuation was therefore not sustainable, and the assessee's appeal succeeded. en-us Wed, 05 Apr 2006 00:00:00 +0530 Mon, 09 Jul 2012 12:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119137 Where goods are sold under a written principal-to-principal contract and the price is departmentally accepted, that contract price remains the normal assessable value for central excise purposes. In the absence of proof that the buyer was a related person, that any extra consideration flowed back to the manufacturer, or that the price was manipulated, a higher notional value based on earlier offers for small quantities cannot displace the genuine wholesale price. The duty demand founded on the notional valuation was therefore not sustainable, and the assessee's appeal succeeded. Case-Laws Central Excise Wed, 05 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119137