Supreme Court of India
Indian Oxygen Ltd. v. Collector of Central Excise.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We hold that pursuant to the old s. 4( a) the value of an excisable article for the purpose of the excise levy should be taken to be the price at which the excisable article is sold by the assessee to a buyer at arm's length in the course of wholesale trade at the lime and place of re moval.
Judgment, page 5
From the headnote
Central Excises and Salt Act, 1944.: Section 4--Valuation of excisable goods-When ex-factory price is ascertainable, assessment to be made on that basis only-if ex-factory price is not ascertainable and assessment to be made ex-depots/service centres, deductions may be claimed towards charges for transportation, delivery and collection, and charges for loading within the premises, on the basis of actual evidence. The appellant has been manufacturing compressed oxygen and dissolved acetylene~ falling under tariff item No. l4H of the First Schedule to the Act. These items were sold to
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