https://www.taxtmi.com/caselaws?id=159545 Wilful suppression in price lists can justify the extended limitation period where material interest-free advances are not disclosed. In excise valuation, notional interest on large interest-free advances received from the wholesale buyer is includible in assessable value because the financial benefit affects the price and forms part of the commercial arrangement. By contrast, a bona fide non-refundable trade discount granted in the course of wholesale trade remains deductible even if it is not uniform across buyers. The appeals therefore succeeded only on the deductibility of the trade discount, while limitation and inclusion of notional interest were sustained. en-us Tue, 10 Jan 1995 00:00:00 +0530 Fri, 11 Jul 2014 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=159545 Wilful suppression in price lists can justify the extended limitation period where material interest-free advances are not disclosed. In excise valuation, notional interest on large interest-free advances received from the wholesale buyer is includible in assessable value because the financial benefit affects the price and forms part of the commercial arrangement. By contrast, a bona fide non-refundable trade discount granted in the course of wholesale trade remains deductible even if it is not uniform across buyers. The appeals therefore succeeded only on the deductibility of the trade discount, while limitation and inclusion of notional interest were sustained. Case-Laws Central Excise Tue, 10 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=159545