https://www.taxtmi.com/caselaws?id=45526 The Supreme Court ruled that transit insurance charges for electric bulbs and tubes do not qualify as an allowable deduction for determining the assessable value. The Court rejected arguments that such charges were compensation for breakages or losses during transit, emphasizing that these payments are not insurance or part of transportation costs but rather compensation for losses. The Court held that the cost of transportation includes expenses for obtaining insurance from an insurance company. Consequently, the Court allowed the civil appeal, setting aside the previous judgment and order without specific costs. en-us Wed, 13 Sep 2000 00:00:00 +0530 Mon, 12 Jul 2010 12:33:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45526 The Supreme Court ruled that transit insurance charges for electric bulbs and tubes do not qualify as an allowable deduction for determining the assessable value. The Court rejected arguments that such charges were compensation for breakages or losses during transit, emphasizing that these payments are not insurance or part of transportation costs but rather compensation for losses. The Court held that the cost of transportation includes expenses for obtaining insurance from an insurance company. Consequently, the Court allowed the civil appeal, setting aside the previous judgment and order without specific costs. Case-Laws Central Excise Wed, 13 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45526