https://www.taxtmi.com/caselaws?id=45041 Municipal octroi valuation under Clause 2(7)(a) of the Bombay Municipal Corporation (Levy of Octroi) Rules, 1965 could not include notional customs duty or additional/countervailing duty that was not actually payable at the time of import under advance licences. A duty exemption under the Duty Exemption Scheme did not create a present liability capable of being added to the assessable value merely because a contingent liability might arise on breach of licence conditions. The earlier Division Bench view was applied: the Corporation had no authority to recover excess octroi by loading notional customs duty, and the possibility of later refund did not validate the inclusion. The petitioners therefore succeeded. en-us Thu, 28 Jan 1999 00:00:00 +0530 Thu, 08 Jul 2010 10:34:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45041 Municipal octroi valuation under Clause 2(7)(a) of the Bombay Municipal Corporation (Levy of Octroi) Rules, 1965 could not include notional customs duty or additional/countervailing duty that was not actually payable at the time of import under advance licences. A duty exemption under the Duty Exemption Scheme did not create a present liability capable of being added to the assessable value merely because a contingent liability might arise on breach of licence conditions. The earlier Division Bench view was applied: the Corporation had no authority to recover excess octroi by loading notional customs duty, and the possibility of later refund did not validate the inclusion. The petitioners therefore succeeded. Case-Laws Customs Thu, 28 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45041