https://www.taxtmi.com/caselaws?id=160396 Fair price fixation under an industrial control order was analysed on the basis of current production cost, reasonable return and achievable capacity. Warranty and bonus expenses were treated as items falling within return, not ex-works cost. Historical cost for September 1969 was rejected in favour of current cost, and an escalation-de-escalation mechanism was considered necessary to reflect genuine cost changes. Depreciation was linked to actual cost rather than replacement value. Production capacities for the manufacturers were revised on the evidence, while royalty, local steel consumption and dealer's mark-up were generally sustained where the record did not justify interference. en-us Wed, 24 Nov 1971 00:00:00 +0530 Tue, 12 Aug 2014 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160396 Fair price fixation under an industrial control order was analysed on the basis of current production cost, reasonable return and achievable capacity. Warranty and bonus expenses were treated as items falling within return, not ex-works cost. Historical cost for September 1969 was rejected in favour of current cost, and an escalation-de-escalation mechanism was considered necessary to reflect genuine cost changes. Depreciation was linked to actual cost rather than replacement value. Production capacities for the manufacturers were revised on the evidence, while royalty, local steel consumption and dealer's mark-up were generally sustained where the record did not justify interference. Case-Laws Income Tax Wed, 24 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160396