https://www.taxtmi.com/caselaws?id=41632 Medicinal preparations containing alcohol remained covered by Item 1 of the Medicinal and Toilet Preparations (Excise Duties) Act, 1955 where they were patent or proprietary medicines and not capable of being consumed as ordinary alcoholic beverages; semi-solid form did not exclude them from excise liability. For valuation, a price charged to a distributor was not accepted as the real value where the manufacturer and distributor were not dealing at arm's length, with common premises and overlapping family participation indicating identity of interest. In that setting, wholesale price was the proper basis for excise valuation. en-us Wed, 20 Nov 1985 00:00:00 +0530 Wed, 30 Jul 2014 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41632 Medicinal preparations containing alcohol remained covered by Item 1 of the Medicinal and Toilet Preparations (Excise Duties) Act, 1955 where they were patent or proprietary medicines and not capable of being consumed as ordinary alcoholic beverages; semi-solid form did not exclude them from excise liability. For valuation, a price charged to a distributor was not accepted as the real value where the manufacturer and distributor were not dealing at arm's length, with common premises and overlapping family participation indicating identity of interest. In that setting, wholesale price was the proper basis for excise valuation. Case-Laws Central Excise Wed, 20 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41632