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1986 (3) TMI 78 - SUPREME COURTWhether the goods are sold by a dealer bona fide at the prices quoted by him? Held that:- It is the duty of the authorities under the Act to determine the wholesale cash price in accordance with the well-settled principles, of course, keeping also in view the maximum price fixed by the Government of India under the Essential Commodities Act, 1955. But in the orders of the excise authorities which are impugned in this appeal we find that they have not made any attempt to determine the wholesale cash price of the goods in question in accordance with law. It appears that both the authorities felt that they were bound by the maximum prices notified by the Government of India and the excise duty was payable on that basis and not on the basis of the wholesale prices fetched by the goods even if they were lower than the controlled prices. They have not given any valid reason for rejecting the price list submitted by the appellant. We accordingly set aside the order of the High Court and the orders passed by the Central excise authorities and remand the case to the Superintendent of Central Excise (Respondent No. 2 herein) to re-determine the wholesale cash price .
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