https://www.taxtmi.com/caselaws?id=51982 Liquidated damages payable for delayed delivery were held not deductible from the assessable value under Section 4(1)(a) of the Central Excise Act, 1944. The assessable value is the normal wholesale price at the time and place of removal, and where that normal price is undisputed, a contractual reduction for breach of delivery terms is only an inter se adjustment between the parties. Such damages do not constitute an allowable deduction or affect the normal price of the goods. The Revenue's view was therefore upheld. en-us Thu, 23 Jan 2003 00:00:00 +0530 Wed, 29 Sep 2010 15:43:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51982 Liquidated damages payable for delayed delivery were held not deductible from the assessable value under Section 4(1)(a) of the Central Excise Act, 1944. The assessable value is the normal wholesale price at the time and place of removal, and where that normal price is undisputed, a contractual reduction for breach of delivery terms is only an inter se adjustment between the parties. Such damages do not constitute an allowable deduction or affect the normal price of the goods. The Revenue's view was therefore upheld. Case-Laws Central Excise Thu, 23 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51982