https://www.taxtmi.com/caselaws?id=40636 For valuation under Section 4(a) of the Central Excises and Salt Act, 1944, assessable value had to be based on the wholesale cash price, and an established trade discount allowed to sole agents was deductible from the gross price. The authority failed to examine whether the limited sales to workmen and private parties without discount were merely small direct consumer sales, rather than true wholesale sales capable of fixing the price basis. In the absence of such material, treating those negligible sales as decisive was arbitrary. The trade discount was therefore required to be deducted, and the demand notice founded on the assessment was quashed. en-us Mon, 29 Oct 1962 00:00:00 +0530 Wed, 12 May 2010 15:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40636 For valuation under Section 4(a) of the Central Excises and Salt Act, 1944, assessable value had to be based on the wholesale cash price, and an established trade discount allowed to sole agents was deductible from the gross price. The authority failed to examine whether the limited sales to workmen and private parties without discount were merely small direct consumer sales, rather than true wholesale sales capable of fixing the price basis. In the absence of such material, treating those negligible sales as decisive was arbitrary. The trade discount was therefore required to be deducted, and the demand notice founded on the assessment was quashed. Case-Laws Central Excise Mon, 29 Oct 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40636