https://www.taxtmi.com/caselaws?id=238429 MRP-based valuation under section 4A was treated as applicable where the goods fell within the packaged commodities regime, even though they were claimed to be for industrial or institutional use. For the pre-1 March 2008 period, the majority considered the valuation scheme workable and allowed retail sale price to be determined on a reasonable best-judgment basis; the dissent said the absence of prescribed machinery made that demand unsustainable. The majority also accepted list price, adjusted for indirect taxes where relevant, as a reasonable basis for retail sale price, while the dissent insisted on actual retail-market ascertainment. On limitation, the majority rejected extended period on bona fide understanding grounds, but the dissent favoured invocation. The members differed, so the matter required reference to a third member. en-us Thu, 01 Aug 2013 00:00:00 +0530 Tue, 22 Oct 2013 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238429 MRP-based valuation under section 4A was treated as applicable where the goods fell within the packaged commodities regime, even though they were claimed to be for industrial or institutional use. For the pre-1 March 2008 period, the majority considered the valuation scheme workable and allowed retail sale price to be determined on a reasonable best-judgment basis; the dissent said the absence of prescribed machinery made that demand unsustainable. The majority also accepted list price, adjusted for indirect taxes where relevant, as a reasonable basis for retail sale price, while the dissent insisted on actual retail-market ascertainment. On limitation, the majority rejected extended period on bona fide understanding grounds, but the dissent favoured invocation. The members differed, so the matter required reference to a third member. Case-Laws Central Excise Thu, 01 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238429