2002 (5) TMI 381

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..... nt]. When this stay petition came up for hearing it was agreed by both sides that the appeal itself could be disposed of. 2. We heard both sides on merits. The learned Counsel for the appellant places reliance on the Board s Circular No. 2/94-CX., dated 11-1-94 in support of the contention that the amount of set off received in respect of the inputs cannot be taken into consideration while .....

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..... of in respect of inputs. 3. The Attorney General of India has confirmed the view expressed in sub-para (ii) above i.e., amount of sales tax payable at effective rate, ignoring the amount of set off available in respect of inputs, is eligible for deduction from the cum-duty price of excisable goods for determining the assessable value under Section 4 of the Central Excise Act . 2. We are con .....

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