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TMI Blog2016 (3) TMI 664X X X X Extracts X X X X X X X X Extracts X X X X ..... he time of clearance of the goods from the appellant's factory or depot as the case may be. The expression "actually paid or payable for the goods, when sold" only means that whatever is agreed to as the price for the goods forms the basis of value, whether such price has been paid, has been paid in part, or has not been paid at all. The basis of "transaction value" is therefore the agreed contractual price. Further, the expression "when sold" is not meant to indicate the time at which such goods are sold, but is meant to indicate that goods are the subject matter of an agreement of sale. Once this becomes clear, what the learned counsel for the assessee has argued must necessarily be accepted inasmuch as cash discount is something which is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the quantity discount scheme should be known prior to clearance of the goods from the factory and therefore the quantity discount was disallowed. Aggrieved by the Adjudication order, the appellant filed appeal before the Commissioner(Appeals), who rejected the same therefore appellant before us. 3. Shri. R.B. Pardeshi, with Shri. N.S. Patel, Ld. Counsels appearing on behalf of the appellant submits that the goods while clearing from the factory was not for sale it was only a stock transfer and from the depot goods were sold and before selling the goods there was a circular issued for quantity discount and accordingly quantity discount was provided to the buyers, therefore, it cannot be said that the discount was provided subsequent to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and from depot the actual sale has taken place. The correct sale value and discount if any, can only be determined and reflected in the sale bill and same is irrelevant in case of clearance from factory to depot as said transaction is not the sale transaction therefore even if all the judgments relied upon by the Revenue are applied, it will support the appellants case for the reason that they have declared their quantity discount before the sale of the goods from the place of removal i.e. Depot and discount was shown in the sale invoice. In recent judgment of Purolator India Ltd Vs. Commissioner of Central Excise, Delhi III, we find that as per the definition of transaction value under the amended Section 4 the transaction value means ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7(S.C.)] has observed as under: 18. It can be seen that Section 4 as amended introduces the concept of transaction value so that on each removal of excisable goods, the transaction value of such goods becomes determinable. Whereas previously, the value of such excisable goods was the price at which such goods were ordinarily sold in the course of wholesale trade, post amendment each transaction is looked at by itself. However, transaction value as defined in sub-clause (3)(d) of Section 4 has to be read along with the expression for delivery at the time and place of removal . It is clear, therefore, that what is paramount is that the value of the excisable goods even on the basis of transaction value has only to be at the time o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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