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2016 (6) TMI 1151 - AT - Central ExciseValuation - section 4 - discount earlier allowed, now recovered - whether the amount realised by disallowing the cash discounts through debit notes are in the form of additional consideration and are need to be added to the transaction value? - Held that: - reliance placed in the decision of the case of M/s. Purolator India Ltd. Versus Commissioner of Central Excise, Delhi – III [2015 (8) TMI 1014 - SUPREME COURT], where it was held that the transaction value as defined in Section 4 (3) (d) is the agreed contractual price. If the agreed contractual price is arrived at with cash discounts in terms of the agreement of sale between assessee and its buyers, then the Apex Court has held that the same will need to be deducted from the sale price in order to arrive at the value of excisable goods at the time of removal - there will be no need to add back the discounts to the assessable value, even if the same are subsequently recovered - appeal allowed - decided in favor of appellant.
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