https://www.taxtmi.com/caselaws?id=43467 Excise valuation of surplus goods diverted and sold by a dealer must reflect the basic character of excise as a duty on manufacture, not on resale. The assessable value is therefore the wholesale cash price at the factory gate of the original manufacturer, or the alternative method under Section 4 where that price cannot be ascertained; the dealer's own market sale price is excluded because it includes post-manufacturing elements and profit. For diverted surplus goods, the relevant valuation date is the date of actual removal from the dealer's premises, not the date of manufacture or original purchase. A demand based on the dealer's resale price cannot stand and requires fresh assessment on the correct basis. en-us Thu, 28 Apr 1983 00:00:00 +0530 Fri, 18 Jun 2010 12:14:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43467 Excise valuation of surplus goods diverted and sold by a dealer must reflect the basic character of excise as a duty on manufacture, not on resale. The assessable value is therefore the wholesale cash price at the factory gate of the original manufacturer, or the alternative method under Section 4 where that price cannot be ascertained; the dealer's own market sale price is excluded because it includes post-manufacturing elements and profit. For diverted surplus goods, the relevant valuation date is the date of actual removal from the dealer's premises, not the date of manufacture or original purchase. A demand based on the dealer's resale price cannot stand and requires fresh assessment on the correct basis. Case-Laws Central Excise Thu, 28 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43467