https://www.taxtmi.com/caselaws?id=325332 Under the pre-transaction value regime, SSI exemption depended on clearances computed on the normal factory-gate price under Section 4 of the Central Excise Act, 1944. Freight and insurance were allowed only to the extent actually incurred and proved, while buyer-deducted amounts for delayed performance could not be retrospectively deducted when they had not been claimed in the price declarations. On that basis, the clearance limit was held to have been crossed and the limitation defence failed because the assessee's declarations misrepresented the value. The penalty under Rule 173Q was nevertheless set aside because the dispute was treated as a valuation error without serious contravention. en-us Thu, 03 Dec 2015 00:00:00 +0530 Wed, 08 Feb 2017 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325332 Under the pre-transaction value regime, SSI exemption depended on clearances computed on the normal factory-gate price under Section 4 of the Central Excise Act, 1944. Freight and insurance were allowed only to the extent actually incurred and proved, while buyer-deducted amounts for delayed performance could not be retrospectively deducted when they had not been claimed in the price declarations. On that basis, the clearance limit was held to have been crossed and the limitation defence failed because the assessee's declarations misrepresented the value. The penalty under Rule 173Q was nevertheless set aside because the dispute was treated as a valuation error without serious contravention. Case-Laws Central Excise Thu, 03 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325332