1997 (12) TMI 120

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..... ispute that at the material point of time there was a price control order in force relating to Aluminium rods. This was done by a notification issued by the Government of India on October 18, 1978. The grievance of the appellant is that although the law is well-settled that the controlled price should be taken as the normal price at which the goods are sold in wholesale trade, the Tribunal has dep .....

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..... t be taken to be the normal price. The law on this point is laid down by Section 4 of the Central Excise Act, 1944 which lays down rules of valuation of excisable goods. Clause (a) of sub-section (1) of Section 4 provides that the goods should be valued with reference to normal price thereof. This is the price at which such goods are ordinarily sold by the assessee to a buyer in the course of whol .....

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..... of this proviso, the price or the maximum price, as the case may be, so fixed shall, in relation to the goods so sold, be deemed to be the normal price thereof." 4. By virtue of this proviso a legal fiction has been created. The price fixed under any law for the time being in force has to be taken as the normal price of the goods. In that view of the matter, in the instant case, the price fixed .....

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