https://www.taxtmi.com/caselaws?id=343941 Contractually stipulated liquidated damages that reduce the amount payable for goods, after the amendment of section 4 and the definition of transaction value, form part of the reduced transaction value for central excise duty; the distinction between penalty and liquidated damages was treated as immaterial where the contract itself varied price for delayed supply. The deduction was therefore permissible on merits. Refund relief, however, remained subject to the statutory bar of unjust enrichment, requiring documentary proof that the duty incidence had not been passed on; the matter was remanded for fresh verification on that issue. en-us Wed, 31 May 2017 00:00:00 +0530 Mon, 05 Jun 2017 07:13:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343941 Contractually stipulated liquidated damages that reduce the amount payable for goods, after the amendment of section 4 and the definition of transaction value, form part of the reduced transaction value for central excise duty; the distinction between penalty and liquidated damages was treated as immaterial where the contract itself varied price for delayed supply. The deduction was therefore permissible on merits. Refund relief, however, remained subject to the statutory bar of unjust enrichment, requiring documentary proof that the duty incidence had not been passed on; the matter was remanded for fresh verification on that issue. Case-Laws Central Excise Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343941