https://www.taxtmi.com/caselaws?id=40828 Where excisable goods are sold to industrial consumers as original equipment at a lower price, that class of buyers may be treated as a distinct class under section 4, and the price charged to them can be accepted as the normal price if the dealings are at arm's length and consistent with normal wholesale trade practice. Once the statutory conditions for determining normal price under section 4(1)(a) are satisfied, valuation need not be shifted to cost of production. The lower price to original equipment buyers was therefore accepted as the assessable value, and cost-based valuation was rejected. en-us Fri, 28 Mar 1980 00:00:00 +0530 Sat, 15 May 2010 11:30:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40828 Where excisable goods are sold to industrial consumers as original equipment at a lower price, that class of buyers may be treated as a distinct class under section 4, and the price charged to them can be accepted as the normal price if the dealings are at arm's length and consistent with normal wholesale trade practice. Once the statutory conditions for determining normal price under section 4(1)(a) are satisfied, valuation need not be shifted to cost of production. The lower price to original equipment buyers was therefore accepted as the assessable value, and cost-based valuation was rejected. Case-Laws Central Excise Fri, 28 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40828