Supreme Court of India
Collector of Central Excise, New Delhi v. Guru Nanak Refrigeration Corpn.
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 clause (b) of sub-section (I) of Section (4) of the Act would not be attracted to determine the nearest ascertainable equivalent of the normal price of the goods for assessment of excise duty on the facts of this-case.
Judgment, page 3
From the headnote
i Central Excise Act, 1944: Ss.4(/)(a) and (b) and 4(4)-Wholesale trade-Levy of excise duty-- c (' Valuation of excisable goods-Assessee selling goods in wholesale trade at price approved by excise authorities-Show cause notice issued to assessee stating that cost of production of goods was more than cost of wholesale price-Differential duty on basis of cost of production sought to be recovered- Held, there is no valid reason to doubt genuineness of the sale price---(Joods were sold at normal price within the meaning of s.4(/)(a) -Where normal i price within the meaning of clause (a) of sub
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