https://www.taxtmi.com/caselaws?id=40786 A genuine trade discount deducted in the ordinary course of business is allowable in fixing wholesale cash price and assessable value under section 4(a) of the Central Excises and Salt Act, 1944. The High Court noted that the provision treats excise as a levy on manufacture and permits deduction only for trade discount and duty payable on removal, but it does not require the discount to be uniform across all wholesale purchasers. Because the regional discount was a percentage reduction from list price granted at arm's length, it retained the character of trade discount. The excise authorities were therefore not justified in refusing approval of the price lists on the ground of non-uniformity. en-us Wed, 05 Dec 1979 00:00:00 +0530 Fri, 14 May 2010 17:13:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40786 A genuine trade discount deducted in the ordinary course of business is allowable in fixing wholesale cash price and assessable value under section 4(a) of the Central Excises and Salt Act, 1944. The High Court noted that the provision treats excise as a levy on manufacture and permits deduction only for trade discount and duty payable on removal, but it does not require the discount to be uniform across all wholesale purchasers. Because the regional discount was a percentage reduction from list price granted at arm's length, it retained the character of trade discount. The excise authorities were therefore not justified in refusing approval of the price lists on the ground of non-uniformity. Case-Laws Central Excise Wed, 05 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40786