https://www.taxtmi.com/caselaws?id=165540 For excise valuation under section 4(a), the wholesale cash price must be determined as an objective statutory value at the time of removal, not by adopting every contract price charged to particular buyers. The court clarified that the observations in Voltas Ltd. were confined to their facts and did not require acceptance of a manufacturer's bulk-purchase contract price as the assessable value. Different contractual rates for the same period did not justify varying the assessable value buyer by buyer. The result was that the authorities could apply the same wholesale cash price to general trade and bulk purchasers, and the valuation-based challenge failed. en-us Fri, 15 Apr 1977 00:00:00 +0530 Thu, 31 Jul 2014 15:54:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165540 For excise valuation under section 4(a), the wholesale cash price must be determined as an objective statutory value at the time of removal, not by adopting every contract price charged to particular buyers. The court clarified that the observations in Voltas Ltd. were confined to their facts and did not require acceptance of a manufacturer's bulk-purchase contract price as the assessable value. Different contractual rates for the same period did not justify varying the assessable value buyer by buyer. The result was that the authorities could apply the same wholesale cash price to general trade and bulk purchasers, and the valuation-based challenge failed. Case-Laws Central Excise Fri, 15 Apr 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165540