2004 (5) TMI 92

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....   [Order per : Justice K.K. Usha, President]. - This appeal is referred for consideration by a Larger Bench for the reason that there are two conflicting views expressed by this Tribunal on the issue raised herein. After hearing both sides and going into the facts of the case in detail, it came out that the issue relating to which there are conflicting decisions of this Tribunal as such....

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....uld show that sub-clause (1) of Para 9 provides for the power to fix ceiling price of scheduled formulations. Sub-clause (1) reads as follows : "9. Power to fix ceiling price of Scheduled formulations. - (1) Notwithstanding anything contained, in this order, the Government may, from time to time, by notification in the Official Gazette, fix the ceiling price of a Scheduled formulation in accord....

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....m time to time by notification in the official Gazette in this behalf. "C.C" means conversion cost worked out in accordance with established procedures of costing and shall be fixed as a norm every year by notification in the Official Gazette in this behalf. "P.M." means cost of the packing material used in the packing of concerned formulation, including process loss, and shall be fixed as a....

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....nd importer's profit which shall not exceed fifty per cent of the landed cost. Explanation : For the purpose of this proviso, 'landed cost' means the cost of import of formulation inclusive of customs duty and clearing charges". 4. The above would show that the ceiling price fixed in respect of drugs which are subject matter of this appeal is retail price and not wholesale price. 5. For t....