https://www.taxtmi.com/caselaws?id=167122 For excise valuation under Section 4 of the Central Excises and Salt Act, the duty deductible from normal price is the duty actually payable by the assessee after giving effect to an exemption notification; a reduced or partially exempt duty must therefore be reflected in the assessable value, and the revised computation was upheld. A retrospective explanation inserted by Section 47 of the Finance Act, 1982 was treated as clarificatory and did not displace the Act's separate recovery and limitation machinery, so Section 11A continued to govern recoveries. The challenge to the excise demands consequently failed, and the revised valuation and duty computation were sustained. en-us Tue, 18 Sep 1984 00:00:00 +0530 Sat, 06 Dec 2014 14:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167122 For excise valuation under Section 4 of the Central Excises and Salt Act, the duty deductible from normal price is the duty actually payable by the assessee after giving effect to an exemption notification; a reduced or partially exempt duty must therefore be reflected in the assessable value, and the revised computation was upheld. A retrospective explanation inserted by Section 47 of the Finance Act, 1982 was treated as clarificatory and did not displace the Act's separate recovery and limitation machinery, so Section 11A continued to govern recoveries. The challenge to the excise demands consequently failed, and the revised valuation and duty computation were sustained. Case-Laws Central Excise Tue, 18 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167122