https://www.taxtmi.com/caselaws?id=167644 Imported lubricating oils were held not assessable to customs duty on a purported wholesale cash price basis under the Sea Customs Act, because the statutory phrase "wholesale cash price" was construed as part of the composite test for "real value" at the time and place of importation. Sales to consumers that included retail profit, credit elements, and post-importation charges did not satisfy that description. As no true wholesale cash price for goods of like kind and quality existed on the revenue's figures, valuation had to proceed under the alternative statutory basis, which favoured the importers. en-us Thu, 21 Apr 1932 00:00:00 +0530 Mon, 29 Dec 2014 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=167644 Imported lubricating oils were held not assessable to customs duty on a purported wholesale cash price basis under the Sea Customs Act, because the statutory phrase "wholesale cash price" was construed as part of the composite test for "real value" at the time and place of importation. Sales to consumers that included retail profit, credit elements, and post-importation charges did not satisfy that description. As no true wholesale cash price for goods of like kind and quality existed on the revenue's figures, valuation had to proceed under the alternative statutory basis, which favoured the importers. Case-Laws Central Excise Thu, 21 Apr 1932 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=167644