https://www.taxtmi.com/caselaws?id=41086 The court ruled in favor of the petitioner, determining that the assessable value of goods should be based on the price agreed with the buyer, not the subsequent selling price. It clarified that the parties were not "related persons" under the Act and emphasized the importance of using the factory gate price for excise duty calculation. The court issued a mandamus to cancel the excise authorities' letters and instructed compliance with valuation rules, ensuring excise duty is levied correctly. Costs were granted to the petitioners. en-us Fri, 05 Feb 1982 00:00:00 +0530 Fri, 21 May 2010 10:05:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41086 The court ruled in favor of the petitioner, determining that the assessable value of goods should be based on the price agreed with the buyer, not the subsequent selling price. It clarified that the parties were not "related persons" under the Act and emphasized the importance of using the factory gate price for excise duty calculation. The court issued a mandamus to cancel the excise authorities' letters and instructed compliance with valuation rules, ensuring excise duty is levied correctly. Costs were granted to the petitioners. Case-Laws Central Excise Fri, 05 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41086