https://www.taxtmi.com/caselaws?id=40908 Under the unamended section 4 of the Central Excises and Salt Act, 1944, valuation had to be based on the wholesale cash price at the time and place of removal, meaning the price realised in wholesale trade to the trading community. A genuine bulk sale to an industrial consumer for its own consumption was not, on these facts, the statutory wholesale cash price, so it could not be used as the basis for assessment. The later amended scheme recognising different normal wholesale prices did not apply to the earlier period in dispute, and the valuation challenge therefore failed. en-us Thu, 08 Nov 1979 00:00:00 +0530 Mon, 07 Apr 2025 17:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40908 Under the unamended section 4 of the Central Excises and Salt Act, 1944, valuation had to be based on the wholesale cash price at the time and place of removal, meaning the price realised in wholesale trade to the trading community. A genuine bulk sale to an industrial consumer for its own consumption was not, on these facts, the statutory wholesale cash price, so it could not be used as the basis for assessment. The later amended scheme recognising different normal wholesale prices did not apply to the earlier period in dispute, and the valuation challenge therefore failed. Case-Laws Central Excise Thu, 08 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40908