https://www.taxtmi.com/caselaws?id=202163 Turnover discount may be deducted from assessable value if it is known and understood at the time of removal, even where quantified only at year-end. The valuation framework under Section 4 of the Central Excise Act, 1944 also recognises transaction value and trade discount for this purpose. However, the deduction is allowable only to the extent the discount is actually passed on to buyers. Because the record did not show what portion of the claimed discount was passed on, the matter required fresh factual verification and was remanded for reassessment of the admissible deduction. en-us Mon, 19 Jul 2010 00:00:00 +0530 Wed, 02 Mar 2011 18:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202163 Turnover discount may be deducted from assessable value if it is known and understood at the time of removal, even where quantified only at year-end. The valuation framework under Section 4 of the Central Excise Act, 1944 also recognises transaction value and trade discount for this purpose. However, the deduction is allowable only to the extent the discount is actually passed on to buyers. Because the record did not show what portion of the claimed discount was passed on, the matter required fresh factual verification and was remanded for reassessment of the admissible deduction. Case-Laws Central Excise Mon, 19 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202163