TaxTMI 
TaxTMI 
1990 (2) TMI 52
X X X X Extracts X X X X
X X X X Extracts X X X X
....hich were assessable under Tariff Item No. 17 of the First Schedule to the Central Excises and Salt Act, 1944 (hereinafter referred to as "the Central Excises Act"). The period with which we are concerned in this appeal is the period September 9,1979 to July 26,1983. The appellant filed several price lists in Part I and Part II in respect of the clearances of paper and paperboards made by the appellant. Section 4 of the Central Excises Act prescribes the mode of valuation of excisable goods for the purposes of charging of the duty of excise. Under clause (a) of sub-section (1) of Section 4, it is provided, in brief, that the duty of excise is chargeable on any excisable goods with reference to value which shall, subject to the other provisi....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... agreement. The Indentors agreed to deposit with the company a certain amount of money as security. Clause (8) of the agreement shows that the Indentors held themselves responsible for the immediate clearance of the documents relating to the supply of paper on presentation by the bankers and that all bank charges other than discounting charges would be on the consignee's account. 4. It is common ground that in the invoices in respect of the paper and paper boards supplied and sold pursuant to the aforesaid agreement with the Indentors, in most cases the name of the dealer concerned was shown as the Indentor and the names of the parties to whom the goods were to be delivered were shown as the purchasers but in some cases the Indentors were ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....oresaid agreements, the indentors were really themselves the purchasers and hence, the normal trade discount paid to them should have been allowed as a deduction in the determination of the normal price for the purposes of levy of excise duty. We find from the judgment of the Tribunal and the lower authorities that there is no dispute that wherever the Indentors are shown as the purchasers in the respective invoices, the trade discount given to them has been allowed as a deduction. Moreover, to obviate any controversy in this regard, learned Attorney General who appears for the respondent fairly states that when the matter goes back to the Tribunal, the respondent is agreeable that the normal trade discount may be allowed in those cases whe....