https://www.taxtmi.com/caselaws?id=42532 The Court held that a revised price list and revised assessable values for cigarettes could not be compelled on the unsubstantiated assumption that the manufacturer had failed to absorb the increase in excise duty or had under-disclosed manufacturing cost and profit. Because the price list had already been approved on the basis of the declared wholesale prices and assessable values, the authority could not substitute those figures with a notional net sum realised after duty at the concessional rate. The communication demanding reassessment on that basis was therefore invalid and was quashed. en-us Tue, 13 Jun 1989 00:00:00 +0530 Fri, 11 Jun 2010 17:48:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42532 The Court held that a revised price list and revised assessable values for cigarettes could not be compelled on the unsubstantiated assumption that the manufacturer had failed to absorb the increase in excise duty or had under-disclosed manufacturing cost and profit. Because the price list had already been approved on the basis of the declared wholesale prices and assessable values, the authority could not substitute those figures with a notional net sum realised after duty at the concessional rate. The communication demanding reassessment on that basis was therefore invalid and was quashed. Case-Laws Central Excise Tue, 13 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42532