https://www.taxtmi.com/caselaws?id=43193 Section 4 valuation under the Central Excises and Salt Act, 1944 permits deduction only of trade discount and the duty payable on the finished excisable article being removed from the factory. Duty already paid on an input component, such as an electric motor used in making pumps, is not deductible from the assessable value of the finished pumps. Wholesale cash price must also be based on genuine arm's length wholesale transactions, so discounts linked to area dealers and post-manufacturing services cannot be treated as the universal measure if independent wholesale sales are also in issue. The revenue's valuation approach was therefore upheld. en-us Tue, 10 Mar 1992 00:00:00 +0530 Fri, 18 Jul 2014 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43193 Section 4 valuation under the Central Excises and Salt Act, 1944 permits deduction only of trade discount and the duty payable on the finished excisable article being removed from the factory. Duty already paid on an input component, such as an electric motor used in making pumps, is not deductible from the assessable value of the finished pumps. Wholesale cash price must also be based on genuine arm's length wholesale transactions, so discounts linked to area dealers and post-manufacturing services cannot be treated as the universal measure if independent wholesale sales are also in issue. The revenue's valuation approach was therefore upheld. Case-Laws Central Excise Tue, 10 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43193