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2014 (9) TMI 614 - HC - Central ExciseValuation - sale from depot - Whether the Tribunal is correct in holding that the lower sale price for goods cleared at Depot on subsequent day will constitute the basis for assessment? - Refund - whether the assessee is entitled to refund of excess duty remitted by them on the basis of the prevailing price on the same day or the subsequent day or on the later date - Held that:- it is the duty of the assessee to ascertain the price prevailing on the factory as well as in the depot and to quote prevailing lower price beneficial to the assessee and as the choice is given to the assessee, the price quoted by the assessee shall be the final price and shall be the price for assessment. The case relied on by the Tribunal in the present case in the impugned order is one such case, wherein, the price adopted by the assessee therein was the price prevailing in the depot on the same day in which, the goods are cleared from the factory. However, the Tribunal had erroneously proceeded on the basis that the price based on which, benefit claimed is the prevailing price at the depot on the date of which goods are cleared from the factory. In fact, the price quoted by the assessee is the price at the related date than the date on which the goods are cleared. Following decision of Camphor & Allied Products Ltd. v. Commissioner of Central Excise, Lucknow, reported in [2000 (8) TMI 466 - CEGAT, NEW DELHI] - Decided in favour of Revenue.
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