https://www.taxtmi.com/caselaws?id=54907 Trade discounts declared to the department before clearance and passed on through credit notes were treated as deductible from assessable value, and the fact that not every customer availed the discount did not defeat the deduction. Amounts received from an insurer for damage and related adjustments were held not to form part of the assessable value because they were not consideration for clearance of goods. As the discounts had been disclosed and departmental awareness was shown, suppression and intent to evade duty were not established; the extended period of limitation and penalties were therefore unsustainable, with the duty demand, interest, and penalties set aside. en-us Tue, 12 Jul 2005 00:00:00 +0530 Fri, 22 Oct 2010 16:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54907 Trade discounts declared to the department before clearance and passed on through credit notes were treated as deductible from assessable value, and the fact that not every customer availed the discount did not defeat the deduction. Amounts received from an insurer for damage and related adjustments were held not to form part of the assessable value because they were not consideration for clearance of goods. As the discounts had been disclosed and departmental awareness was shown, suppression and intent to evade duty were not established; the extended period of limitation and penalties were therefore unsustainable, with the duty demand, interest, and penalties set aside. Case-Laws Central Excise Tue, 12 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54907