https://www.taxtmi.com/caselaws?id=47452 Valuation of processed fabrics under the Central Excise Act depends on the statutory scheme for normal wholesale price and the exception for transactions with related persons. The deemed factory-gate valuation formula in Ujagar Prints III is not conclusive where the processor and merchant-manufacturer are alleged to be related, because relationship must first be examined to determine whether an arm's-length basis exists. The unresolved questions of related-person status also govern any claim for discounts and deductions. The matter therefore required fresh adjudication on the parties' relationship and the resulting assessable value before abatements could be considered. en-us Mon, 21 Nov 2005 00:00:00 +0530 Mon, 16 Jun 2014 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47452 Valuation of processed fabrics under the Central Excise Act depends on the statutory scheme for normal wholesale price and the exception for transactions with related persons. The deemed factory-gate valuation formula in Ujagar Prints III is not conclusive where the processor and merchant-manufacturer are alleged to be related, because relationship must first be examined to determine whether an arm's-length basis exists. The unresolved questions of related-person status also govern any claim for discounts and deductions. The matter therefore required fresh adjudication on the parties' relationship and the resulting assessable value before abatements could be considered. Case-Laws Central Excise Mon, 21 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47452