https://www.taxtmi.com/caselaws?id=48994 For excise valuation under Section 4(1)(a)(ii), where bulk drugs are governed by a control order that fixes only a maximum sale price, sales below that ceiling are to be valued on the actual price realised by the manufacturer. The statutory deeming rule treats the price fixed under law as the relevant normal price, but where the law prescribes only a ceiling, a lawful sale below that limit remains the operative price for valuation. The contrary view was not applied on these facts, and valuation on the ceiling price was rejected in favour of the assessee. en-us Fri, 18 Jun 2004 00:00:00 +0530 Sat, 07 Aug 2010 15:40:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48994 For excise valuation under Section 4(1)(a)(ii), where bulk drugs are governed by a control order that fixes only a maximum sale price, sales below that ceiling are to be valued on the actual price realised by the manufacturer. The statutory deeming rule treats the price fixed under law as the relevant normal price, but where the law prescribes only a ceiling, a lawful sale below that limit remains the operative price for valuation. The contrary view was not applied on these facts, and valuation on the ceiling price was rejected in favour of the assessee. Case-Laws Central Excise Fri, 18 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48994