9911796707
TMI Blog1998 (10) TMI 508X X X X Extracts X X X X X X X X Extracts X X X X ..... benefit of exemption notification was to be worked out. He stated that in working out the assessable value for the purpose of quantification of effective rate of duty, deduction should be allowed only of basic excise duty i.e., excise duty under Central Excises Act, 1944 and no deduction be allowed for special excise duty under the relevant Finance Act. This order having been confirmed by Collector (Appeals), the manufacturer has filed Appeal No. E/5434/92-A. Based on the order of approval passed by the A.C., demand was raised in respect of the differential duty. In spite of the objection raised by the appellant, the A.C. confirmed the demand and his order having been confirmed by Collector (Appeals), the assessee has filed Appeal No. E/99 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... decision has no application in the present case. 4. Modi Rubber Ltd. case related to a controversy arising on the scope of ex emption under Notification 123/74 and 27/81. The assessee contended that the exemption related not only to excise duty under the Central Excises Act, 1944 but also to special excise duty under the relevant Finance Act. The Supreme Court over-ruled this contention. On the reasoning seen in paragraph 11 of the judgment, the Supreme Court indicated that whenever the government desired to grant exemption of not only excise duty under the Central Excise Act, 1944 but also of special excise duty under the Finance Act, the matter had been placed beyond doubt in other notifications by specifically referring to duty under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... must necessarily be guided by the scheme in Section 4 of the Act. Assessable value under Section 4(1)(a) is dependent upon the wholesale price. One assessable value required to be determined under the notification would be based on the wholesale price. The second assessable value (i.e. the retail price less 15% discount) is not related to wholesale price. But, so far as other provisions of Section 4 which throw light on other aspects of assessable value are concerned, one is required to be guided by those provisions of Section 4. One of these relevant provisions is sub-clause (ii) of sub-section (4) of Section 4 of the Act. This proviso states, inter alia, that value , in relation to any excisable goods does not include the amount of d ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
