https://www.taxtmi.com/caselaws?id=52331 Trade discounts are deductible from assessable value when they are known at the time of sale and reflected in invoices, credit notes, or price declarations; on that basis, the non-quantity discounts were allowed, but the unpaid quantity discount was not deductible because it never materialised, and the duty demand to that extent was sustained. Penalty was not sustainable for short-levy recoveries confined to the normal limitation period under the Central Excise Act, so it was set aside. en-us Wed, 12 Nov 2003 00:00:00 +0530 Thu, 04 Jul 2024 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52331 Trade discounts are deductible from assessable value when they are known at the time of sale and reflected in invoices, credit notes, or price declarations; on that basis, the non-quantity discounts were allowed, but the unpaid quantity discount was not deductible because it never materialised, and the duty demand to that extent was sustained. Penalty was not sustainable for short-levy recoveries confined to the normal limitation period under the Central Excise Act, so it was set aside. Case-Laws Central Excise Wed, 12 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52331