https://www.taxtmi.com/caselaws?id=45706 Excise valuation under Section 4 had to be based on the statutory wholesale cash price at the relevant location, so resale prices of an alleged buyer could not be used where agency or stockist status was not proved. The Court also stated that provisional assessment under Rule 10B had to be affirmatively established by a proper direction and bond, which was not shown for the material period. On limitation, part of the demand was time-barred under Rule 10, but that did not cure the defective valuation and unproved provisional assessment basis. The reassessments were quashed with consequential re-adjustment. en-us Thu, 25 Nov 1965 00:00:00 +0530 Tue, 13 Jul 2010 13:17:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45706 Excise valuation under Section 4 had to be based on the statutory wholesale cash price at the relevant location, so resale prices of an alleged buyer could not be used where agency or stockist status was not proved. The Court also stated that provisional assessment under Rule 10B had to be affirmatively established by a proper direction and bond, which was not shown for the material period. On limitation, part of the demand was time-barred under Rule 10, but that did not cure the defective valuation and unproved provisional assessment basis. The reassessments were quashed with consequential re-adjustment. Case-Laws Central Excise Thu, 25 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45706