https://www.taxtmi.com/caselaws?id=46970 Valuation of excisable goods under Section 4 of the Central Excise Act, 1944 is to be based on the normal price in wholesale trade where the contract itself fixes the value of supplied inputs and the value remains determinable from that arrangement. In this dispute over silver used to manufacture batteries supplied to the Ministry of Defence, the contractual supply and rebate structure was treated as part of the ordinary trade arrangement, so recourse to comparable market values under residual valuation rules was unwarranted. The assessable value was therefore required to be taken at the contractual rate, and the Revenue's market-based valuation was unsustainable. en-us Wed, 05 May 2004 00:00:00 +0530 Wed, 18 Jun 2014 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46970 Valuation of excisable goods under Section 4 of the Central Excise Act, 1944 is to be based on the normal price in wholesale trade where the contract itself fixes the value of supplied inputs and the value remains determinable from that arrangement. In this dispute over silver used to manufacture batteries supplied to the Ministry of Defence, the contractual supply and rebate structure was treated as part of the ordinary trade arrangement, so recourse to comparable market values under residual valuation rules was unwarranted. The assessable value was therefore required to be taken at the contractual rate, and the Revenue's market-based valuation was unsustainable. Case-Laws Central Excise Wed, 05 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46970