https://www.taxtmi.com/caselaws?id=43601 For excise exemption notifications, assessable value must be determined under Section 4 on the factory-gate wholesale price, with only deductions authorised by law. Trade discount and excise duty are excluded, and transport cost to the place of delivery is not part of assessable value where relevant. The departmental approach of starting from consumer price and working backwards was inconsistent with the statutory valuation scheme and settled excise principles. Amounts collected from buyers after clearance could not be mechanically treated as assessable value. The impugned demand and assessment action were therefore unsustainable, and the exemption value had to be computed on the correct valuation basis. en-us Fri, 05 Mar 1993 00:00:00 +0530 Sat, 19 Jun 2010 10:24:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43601 For excise exemption notifications, assessable value must be determined under Section 4 on the factory-gate wholesale price, with only deductions authorised by law. Trade discount and excise duty are excluded, and transport cost to the place of delivery is not part of assessable value where relevant. The departmental approach of starting from consumer price and working backwards was inconsistent with the statutory valuation scheme and settled excise principles. Amounts collected from buyers after clearance could not be mechanically treated as assessable value. The impugned demand and assessment action were therefore unsustainable, and the exemption value had to be computed on the correct valuation basis. Case-Laws Central Excise Fri, 05 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43601