https://www.taxtmi.com/caselaws?id=184653 Ship construction contracts with escalation clauses may require valuation under the excise valuation rules where the normal wholesale price is not readily ascertainable. Escalation amounts payable for steel, labour and customs duty were treated as part of the contract price and therefore included in assessable value, because they formed part of the money consideration for the sale. However, where those escalation amounts had not yet been finally quantified and were still pending arbitration, a duty notice based on the escalated amount was held premature and unsustainable. The revenue was left free to proceed if and when the amounts became finally determined and crystallised. en-us Fri, 13 Feb 1987 00:00:00 +0530 Fri, 15 Jul 2016 13:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184653 Ship construction contracts with escalation clauses may require valuation under the excise valuation rules where the normal wholesale price is not readily ascertainable. Escalation amounts payable for steel, labour and customs duty were treated as part of the contract price and therefore included in assessable value, because they formed part of the money consideration for the sale. However, where those escalation amounts had not yet been finally quantified and were still pending arbitration, a duty notice based on the escalated amount was held premature and unsustainable. The revenue was left free to proceed if and when the amounts became finally determined and crystallised. Case-Laws Central Excise Fri, 13 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184653